Simmons Bank reduced its stake in The Allstate Co. (NYSE:ALL – Free Report) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,661 shares of the insurance provider’s stock after selling 314 shares during the period. Simmons Bank’s holdings in Allstate were worth $1,643,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Community Bank & Trust Waco Texas grew its stake in Allstate by 12.2% in the third quarter. Community Bank & Trust Waco Texas now owns 5,741 shares of the insurance provider’s stock worth $1,089,000 after purchasing an additional 626 shares in the last quarter. Haverford Trust Co lifted its holdings in shares of Allstate by 1.3% in the 3rd quarter. Haverford Trust Co now owns 11,244 shares of the insurance provider’s stock worth $2,132,000 after buying an additional 149 shares during the period. Empower Advisory Group LLC bought a new position in shares of Allstate during the 3rd quarter worth $232,000. Aptus Capital Advisors LLC increased its stake in shares of Allstate by 3.0% during the third quarter. Aptus Capital Advisors LLC now owns 3,500 shares of the insurance provider’s stock valued at $664,000 after buying an additional 103 shares during the period. Finally, Commonwealth Retirement Investments LLC raised its holdings in shares of Allstate by 9.0% in the third quarter. Commonwealth Retirement Investments LLC now owns 5,813 shares of the insurance provider’s stock valued at $1,102,000 after acquiring an additional 479 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on ALL. Bank of America increased their target price on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price objective on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their price objective on shares of Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Piper Sandler upped their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Barclays lifted their price target on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $212.56.
Allstate Price Performance
Shares of ALL stock opened at $197.30 on Thursday. The Allstate Co. has a fifty-two week low of $129.18 and a fifty-two week high of $201.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $52.25 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.77 and a beta of 0.48. The stock’s 50-day simple moving average is $189.43 and its 200-day simple moving average is $176.25.
Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that The Allstate Co. will post 16.02 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, 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. In the last 90 days, insiders sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by company insiders.
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.
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