Kornitzer Capital Management Inc. KS Sells 5,940 Shares of The Allstate Co. (NYSE:ALL)

Kornitzer Capital Management Inc. KS decreased its stake in shares of The Allstate Co. (NYSE:ALL) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,586 shares of the insurance provider’s stock after selling 5,940 shares during the period. Allstate makes up 0.8% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 24th largest holding. Kornitzer Capital Management Inc. KS owned approximately 0.09% of Allstate worth $45,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of ALL. Northwest Investment Counselors LLC purchased a new position in Allstate in the third quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the third quarter worth about $29,000. Versant Capital Management Inc raised its holdings in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Family Firm Inc. purchased a new position in Allstate in the second quarter worth about $38,000. Finally, MCF Advisors LLC raised its holdings in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Piper Sandler upped their target price on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. The Goldman Sachs Group upped their target price on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company upped their target price on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday. One research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.50.

Insider Activity

In other news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were 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 owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the transaction, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at $877,968.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is currently owned by company insiders.

Allstate Price Performance

Allstate stock traded up $0.23 during mid-day trading on Thursday, reaching $189.02. 96,841 shares of the company’s stock traded hands, compared to its average volume of 1,543,642. The company has a market cap of $50.05 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.73 and a beta of 0.48. The stock has a 50 day moving average of $188.89 and a two-hundred day moving average of $175.59. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The Allstate Co. has a 12-month low of $127.93 and a 12-month high of $198.79.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts forecast that The Allstate Co. will post 15.23 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.