ABLE Financial Group LLC Makes New $217,000 Investment in The Allstate Co. (NYSE:ALL)

ABLE Financial Group LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,145 shares of the insurance provider’s stock, valued at approximately $217,000.

Several other hedge funds have also recently modified their holdings of ALL. First National Bank & Trust Co. of Newtown bought a new position in Allstate during the third quarter valued at $216,000. Consolidated Planning Corp purchased a new stake in shares of Allstate during the 3rd quarter valued at about $232,000. Principal Financial Group Inc. lifted its holdings in shares of Allstate by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 313,754 shares of the insurance provider’s stock valued at $59,503,000 after acquiring an additional 5,980 shares during the last quarter. Spinnaker Trust purchased a new position in Allstate in the third quarter worth about $229,000. Finally, Radnor Capital Management LLC bought a new stake in Allstate during the third quarter worth approximately $302,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,530 shares of company stock worth $34,967,665 over the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley boosted their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen increased their target price on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Piper Sandler lifted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.56.

Allstate Stock Up 3.3 %

Shares of Allstate stock opened at $196.89 on Friday. The Allstate Co. has a 1 year low of $128.33 and a 1 year high of $198.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $52.14 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.71 and a beta of 0.48. The firm’s 50-day moving average is $189.09 and its two-hundred day moving average is $175.84.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. Allstate’s revenue was up 14.7% on a year-over-year basis. As a group, research analysts expect that The Allstate Co. will post 15.23 earnings per share for the current fiscal year.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.