Maryland Capital Advisors Inc. Invests $94,000 in The Allstate Co. (NYSE:ALL)

Maryland Capital Advisors Inc. bought a new stake in shares of The Allstate Co. (NYSE:ALL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 495 shares of the insurance provider’s stock, valued at approximately $94,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. Allspring Global Investments Holdings LLC raised its position in shares of Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after buying an additional 145,986 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after buying an additional 47,038 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Allstate by 3.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after acquiring an additional 31,789 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Allstate by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after acquiring an additional 8,454 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Up 0.1 %

Shares of Allstate stock opened at $192.78 on Wednesday. The Allstate Co. has a fifty-two week low of $121.70 and a fifty-two week high of $198.79. The stock has a 50 day moving average of $187.50 and a 200 day moving average of $174.10. The firm has a market capitalization of $50.88 billion, a price-to-earnings ratio of 42.56, a PEG ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.42) earnings per share. As a group, research analysts predict that The Allstate Co. will post 15.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ALL shares. Wells Fargo & Company cut their price objective on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. TD Cowen upped their price objective on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler upped their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.44.

Insider Buying and Selling at Allstate

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

Allstate Company Profile

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.