Allen Wealth Management LLC Cuts Stake in The Allstate Co. (NYSE:ALL)

Allen Wealth Management LLC decreased its stake in The Allstate Co. (NYSE:ALL) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,451 shares of the insurance provider’s stock after selling 200 shares during the period. Allen Wealth Management LLC’s holdings in Allstate were worth $275,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Carmichael Hill & Associates Inc. boosted its holdings in Allstate by 15.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 60 shares during the period. Janney Capital Management LLC boosted its stake in shares of Allstate by 2.5% in the third quarter. Janney Capital Management LLC now owns 20,160 shares of the insurance provider’s stock valued at $3,823,000 after purchasing an additional 486 shares during the period. Invesco LLC grew its holdings in Allstate by 1.2% during the 3rd quarter. Invesco LLC now owns 14,040 shares of the insurance provider’s stock valued at $2,663,000 after purchasing an additional 167 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after buying an additional 59 shares during the period. Finally, Phillips Wealth Planners LLC acquired a new position in Allstate in the 3rd quarter worth $247,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Elizabeth Brady sold 49,481 shares of the business’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 transaction of $8,861,552.29. Following the sale, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the insider now directly owns 27,364 shares of the company’s stock, 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 worth $34,967,665 in the last three months. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALL. UBS Group lifted their target price on Allstate from $215.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group upped their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Roth Mkm reissued a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Jefferies Financial Group increased their price objective on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI boosted their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $207.19.

Allstate Stock Performance

Shares of ALL opened at $184.15 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 1 year low of $127.93 and a 1 year high of $198.79. The firm has a fifty day moving average of $188.87 and a 200-day moving average of $175.23. The company has a market cap of $48.62 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 27.74%. Allstate’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, equities analysts anticipate that The Allstate Co. will post 14.16 earnings per share for the current year.

Allstate 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.