Independent Advisor Alliance Cuts Stake in The Allstate Corporation $ALL

Independent Advisor Alliance decreased its position in The Allstate Corporation (NYSE:ALL) by 57.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,283 shares of the insurance provider’s stock after selling 12,763 shares during the quarter. Independent Advisor Alliance’s holdings in Allstate were worth $1,932,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Truist Financial Corp boosted its holdings in shares of Allstate by 4.7% in the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after purchasing an additional 5,542 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Allstate by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock worth $40,489,000 after purchasing an additional 12,225 shares during the period. Coastal Bridge Advisors LLC boosted its holdings in shares of Allstate by 530.6% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock worth $3,901,000 after purchasing an additional 15,292 shares during the period. Caprock Group LLC purchased a new position in shares of Allstate in the 3rd quarter worth approximately $3,598,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Allstate in the 3rd quarter worth approximately $1,862,000. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

ALL opened at $216.29 on Friday. The business has a fifty day moving average of $211.13 and a 200 day moving average of $206.99. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $222.23. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $55.68 billion, a P/E ratio of 4.77, a PEG ratio of 0.39 and a beta of 0.21.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.53 EPS. As a group, sell-side analysts anticipate that The Allstate Corporation will post 28.82 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALL shares. Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Raymond James Financial restated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Finally, Citigroup boosted their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average price target of $241.67.

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.55% of the stock is currently owned by company insiders.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.