Manning & Napier Advisors LLC Has $6.58 Million Stock Holdings in The Allstate Corporation $ALL

Manning & Napier Advisors LLC decreased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,446 shares of the insurance provider’s stock after selling 2,782 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Allstate were worth $6,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in Allstate by 1,766.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after acquiring an additional 822,583 shares during the period. Woodline Partners LP acquired a new position in shares of Allstate in the 3rd quarter valued at about $148,641,000. Ameriprise Financial Inc. lifted its position in shares of Allstate by 52.7% in the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after purchasing an additional 478,598 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Allstate in the third quarter worth approximately $100,596,000. Finally, Swedbank AB boosted its holdings in shares of Allstate by 51.9% during the fourth quarter. Swedbank AB now owns 1,309,247 shares of the insurance provider’s stock worth $272,520,000 after purchasing an additional 447,522 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE ALL opened at $213.01 on Friday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $222.23. The stock’s 50-day moving average is $210.90 and its two-hundred day moving average is $206.26. The firm has a market cap of $54.83 billion, a P/E ratio of 4.70, a price-to-earnings-growth ratio of 0.40 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on ALL shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Piper Sandler lifted their target price on shares of Allstate from $252.00 to $268.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Finally, TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $241.67.

Insider Transactions at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction that occurred 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 owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.55% of the stock is owned by insiders.

About Allstate

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.