The Allstate Corporation $ALL Stock Bought by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC grew its stake in The Allstate Corporation (NYSE:ALL) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,049 shares of the insurance provider’s stock after purchasing an additional 2,792 shares during the period. Patton Albertson Miller Group LLC’s holdings in Allstate were worth $6,223,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Leo Wealth LLC purchased a new stake in shares of Allstate during the third quarter worth approximately $790,000. Apollon Wealth Management LLC grew its position in Allstate by 46.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 12,817 shares of the insurance provider’s stock valued at $2,844,000 after buying an additional 4,065 shares during the last quarter. Live Oak Investment Partners increased its stake in Allstate by 0.6% in the 3rd quarter. Live Oak Investment Partners now owns 11,767 shares of the insurance provider’s stock valued at $2,611,000 after buying an additional 66 shares during the period. Paladin Wealth LLC increased its stake in Allstate by 64.5% in the 3rd quarter. Paladin Wealth LLC now owns 1,425 shares of the insurance provider’s stock valued at $316,000 after buying an additional 559 shares during the period. Finally, Orange Investment Advisors Inc. increased its stake in Allstate by 39.8% in the 3rd quarter. Orange Investment Advisors Inc. now owns 17,532 shares of the insurance provider’s stock valued at $3,890,000 after buying an additional 4,991 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ALL. The Goldman Sachs Group cut their price objective on shares of Allstate from $280.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, October 1st. Keefe, Bruyette & Woods lowered their target price on shares of Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a report on Monday, October 12th. Bank of America boosted their price target on shares of Allstate from $336.00 to $340.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Atlantic Securities set a $319.00 price target on shares of Allstate in a report on Wednesday, July 15th. Finally, UBS Group raised their price objective on shares of Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $270.19.

Insider Transactions at Allstate

In other Allstate news, insider John Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company’s stock.

Allstate Stock Up 1.1%

Allstate stock opened at $255.89 on Tuesday. The stock’s 50 day moving average price is $245.82 and its 200 day moving average price is $226.99. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The company has a market cap of $64.70 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.94 earnings per share. On average, sell-side analysts predict that The Allstate Corporation will post 36.21 EPS for the current fiscal year.

Allstate Company Profile

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.