Norris Perne & French LLP MI Acquires 2,230 Shares of The Allstate Corporation $ALL

Norris Perne & French LLP MI bought a new stake in The Allstate Corporation (NYSE:ALL) during the 3rd quarter, Holdings Channel.com reports. The firm bought 2,230 shares of the insurance provider’s stock, valued at approximately $495,000.

A number of other large investors also recently modified their holdings of ALL. BG Investment Services LLC acquired a new position in shares of Allstate during the 3rd quarter worth about $6,501,000. Simplicity Wealth LLC raised its stake in Allstate by 2.0% in the third quarter. Simplicity Wealth LLC now owns 3,389 shares of the insurance provider’s stock valued at $752,000 after buying an additional 68 shares during the period. Kendall Capital Management raised its stake in Allstate by 2.4% in the third quarter. Kendall Capital Management now owns 1,730 shares of the insurance provider’s stock valued at $384,000 after buying an additional 40 shares during the period. Dudley Capital Management LLC lifted its position in shares of Allstate by 27.4% in the third quarter. Dudley Capital Management LLC now owns 4,482 shares of the insurance provider’s stock valued at $994,000 after buying an additional 965 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its position in shares of Allstate by 2.9% in the third quarter. Capital Investment Advisors LLC now owns 5,061 shares of the insurance provider’s stock valued at $1,123,000 after buying an additional 141 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate News Roundup

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate prevailed in a Texas coverage dispute involving a vacant property. The ruling supports the insurer’s ability to enforce policy vacancy provisions, potentially limiting claims costs and reinforcing underwriting discipline. Vacant clause can void cover: US court backs Allstate in Texas case
• Positive Sentiment: Allstate retained $9,000 in a subrogation-related dispute after a court placed the premature filing cost on the opposing liability carrier. The financial impact is small, but the decision may support Allstate’s claims-handling position. Allstate keeps $9,000 as premature subrogation cost falls on liability carrier
• Positive Sentiment: Bank of America raised its price target on Allstate to $340 from $336, signaling continued confidence in the insurer’s earnings outlook and valuation. BofA raises target from $336 to $340
• Positive Sentiment: A valuation-focused analysis said Allstate still appears inexpensive despite a 131% advance, potentially attracting investors who expect further benefits from strong insurance pricing and improved profitability. Allstate stock still looks cheap after its 131% run
• Neutral Sentiment: Allstate shares gained 3.76% in the referenced session, although KBW maintained its Sell rating, highlighting a disconnect between short-term trading momentum and analyst conviction. KBW keeps Sell rating
• Neutral Sentiment: UBS reiterated its Hold rating, offering no new catalyst but indicating the firm sees limited justification for changing its current view. UBS keeps Hold rating
• Negative Sentiment: Analysts expect Allstate’s third-quarter earnings per share to decline by double digits year over year, creating concern ahead of the company’s November earnings release. What to expect from Allstate’s next quarterly earnings report
• Negative Sentiment: KBW’s continued Sell rating remains a notable overhang, suggesting the firm believes Allstate’s strong rally has outpaced its fundamental value. KBW keeps Sell rating
• Negative Sentiment: The price target for Allstate’s preferred stock was reduced 12.29% to $19.21, signaling weaker expectations for that security, although it does not directly change the valuation of the common shares. Allstate preferred stock price target decreased

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ALL has been the topic of a number of recent analyst reports. Atlantic Securities set a $319.00 target price on Allstate in a report on Wednesday, July 15th. Bank of America raised their price target on Allstate from $336.00 to $340.00 and gave the company a “buy” rating in a report on Monday, October 12th. Jefferies Financial Group reduced their price objective on shares of Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Argus set a $238.00 price target on shares of Allstate in a research note on Friday, August 28th. Finally, Wells Fargo & Company raised shares of Allstate from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $250.00 to $236.00 in a report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $270.19.

Allstate Stock Performance

ALL opened at $253.24 on Friday. The business has a fifty day simple moving average of $245.78 and a 200 day simple moving average of $236.63. The company has a market capitalization of $64.03 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. 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 issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $5.94 EPS. Research analysts expect that The Allstate Corporation will post 36.21 EPS for the current 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.