The Allstate Corporation $ALL Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in The Allstate Corporation (NYSE:ALL) by 17.5% during the third quarter, HoldingsChannel.com reports. The fund owned 29,633 shares of the insurance provider’s stock after acquiring an additional 4,410 shares during the quarter. State of Alaska Department of Revenue’s holdings in Allstate were worth $6,333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALL. WealthPlan Investment Management LLC increased its position in shares of Allstate by 12.9% in the third quarter. WealthPlan Investment Management LLC now owns 1,536 shares of the insurance provider’s stock valued at $341,000 after buying an additional 176 shares in the last quarter. Nvwm LLC raised its stake in shares of Allstate by 2,200.0% during the 3rd quarter. Nvwm LLC now owns 184 shares of the insurance provider’s stock worth $41,000 after buying an additional 176 shares during the last quarter. KG Capital Management raised its stake in shares of Allstate by 30.3% during the 3rd quarter. KG Capital Management now owns 1,635 shares of the insurance provider’s stock worth $363,000 after buying an additional 380 shares during the last quarter. Mather Group LLC. boosted its position in shares of Allstate by 8.1% in the 3rd quarter. Mather Group LLC. now owns 6,950 shares of the insurance provider’s stock worth $1,516,000 after buying an additional 523 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Allstate by 84.6% in the 3rd quarter. Fortitude Family Office LLC now owns 432 shares of the insurance provider’s stock worth $96,000 after buying an additional 198 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 approximately $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of Allstate from $336.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Keefe, Bruyette & Woods cut their target price on shares of Allstate from $250.00 to $232.00 and set an “underperform” rating for the company in a research report on Monday, October 12th. The Goldman Sachs Group reduced their price target on shares of Allstate from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and set a $266.00 price target on the stock in a research report on Wednesday, October 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Monday, September 28th. Two 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Hold” and an average price target of $270.19.

Allstate Price Performance

Shares of NYSE ALL traded up $7.67 during trading on Friday, reaching $247.27. The company had a trading volume of 3,499,917 shares, compared to its average volume of 2,525,334. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The stock has a market capitalization of $62.52 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.13. The stock has a 50-day moving average price of $246.77 and a two-hundred day moving average price of $235.04. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.94 earnings per share. As a group, sell-side analysts predict that The Allstate Corporation will post 36.09 earnings per share for the current year.

Allstate Company Profile

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.