Fmr LLC Grows Stake in Allstate Corp (ALL)

Fmr LLC raised its holdings in shares of Allstate Corp (NYSE:ALL) by 24.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,096,814 shares of the insurance provider’s stock after buying an additional 811,694 shares during the quarter. Fmr LLC owned about 1.18% of Allstate worth $373,917,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC boosted its position in shares of Allstate by 41.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock valued at $183,000 after acquiring an additional 545 shares during the last quarter. Townsend & Associates Inc boosted its position in shares of Allstate by 8.5% during the 2nd quarter. Townsend & Associates Inc now owns 7,144 shares of the insurance provider’s stock valued at $652,000 after acquiring an additional 558 shares during the last quarter. Catawba Capital Management VA boosted its position in shares of Allstate by 1.5% during the 2nd quarter. Catawba Capital Management VA now owns 39,271 shares of the insurance provider’s stock valued at $3,584,000 after acquiring an additional 566 shares during the last quarter. Reliance Trust Co. of Delaware boosted its position in shares of Allstate by 8.6% during the 2nd quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock valued at $664,000 after acquiring an additional 575 shares during the last quarter. Finally, Dean Capital Investments Management LLC boosted its position in shares of Allstate by 5.4% during the 2nd quarter. Dean Capital Investments Management LLC now owns 11,878 shares of the insurance provider’s stock valued at $1,084,000 after acquiring an additional 612 shares during the last quarter. 76.19% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on ALL. Wells Fargo & Co set a $100.00 price target on shares of Allstate and gave the company a “hold” rating in a research report on Thursday, October 18th. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. Citigroup lowered their price target on shares of Allstate from $108.00 to $107.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. B. Riley boosted their price target on shares of Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Finally, Buckingham Research raised shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target on the stock in a research report on Wednesday, July 18th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $104.62.



In other news, EVP Harriet K. Harty sold 10,515 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the sale, the executive vice president now owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan L. Lees sold 22,189 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total transaction of $2,202,036.36. The disclosure for this sale can be found here. Insiders sold 54,432 shares of company stock worth $5,386,208 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

NYSE ALL opened at $92.33 on Friday. Allstate Corp has a 12 month low of $88.29 and a 12 month high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $32.15 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.18 and a beta of 0.91.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 1st. The insurance provider reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.45. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. Allstate’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts predict that Allstate Corp will post 9.46 EPS for the current fiscal year.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

Further Reading: Why is the ex-dividend date different from the record date?

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply