First Citizens Bank & Trust Co. Reduces Stock Holdings in The Allstate Co. (NYSE:ALL)

First Citizens Bank & Trust Co. lowered its stake in The Allstate Co. (NYSE:ALL) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,519 shares of the insurance provider’s stock after selling 1,388 shares during the period. First Citizens Bank & Trust Co.’s holdings in Allstate were worth $10,719,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. BDF Gestion purchased a new stake in Allstate in the second quarter worth about $3,051,000. BNP Paribas Financial Markets raised its holdings in Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares in the last quarter. OFI Invest Asset Management purchased a new position in Allstate during the second quarter valued at $476,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Allstate by 12.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after buying an additional 5,586 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Allstate by 251.8% in the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock worth $9,185,000 after acquiring an additional 38,001 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of several recent analyst reports. Barclays assumed coverage on Allstate in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target for the company. Jefferies Financial Group increased their price target on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Raymond James boosted their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. Wells Fargo & Company cut their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Finally, Evercore ISI upped their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $202.59.

Insider Activity at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction that occurred on 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. This represents a 0.00 % decrease in their position. 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 of the company’s stock, valued at $3,431,901.67. The trade was 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 have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by company insiders.

Allstate Trading Down 0.0 %

Shares of NYSE:ALL opened at $195.44 on Friday. The Allstate Co. has a 12-month low of $121.70 and a 12-month high of $198.79. The company has a market cap of $51.58 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The stock has a 50 day moving average of $186.66 and a 200 day moving average of $173.80. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same period last year, the firm earned ($4.42) EPS. The company’s revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts expect that The Allstate Co. will post 15.19 EPS for the current year.

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.