KMG Fiduciary Partners LLC Cuts Stock Position in The Allstate Co. (NYSE:ALL)

by · The Markets Daily

KMG Fiduciary Partners LLC cut its holdings in The Allstate Co. (NYSE:ALL – Free Report) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,516 shares of the insurance provider’s stock after selling 62 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Allstate were worth $3,132,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALL. Artemis Investment Management LLP acquired a new stake in shares of Allstate in the first quarter worth approximately $95,764,000. AQR Capital Management LLC lifted its stake in shares of Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after purchasing an additional 464,337 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after purchasing an additional 405,553 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Allstate by 757.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 340,274 shares of the insurance provider’s stock valued at $54,328,000 after buying an additional 300,572 shares during the period. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in shares of Allstate in the 1st quarter valued at $43,909,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALL shares. Bank of America increased their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods increased their target price on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Barclays assumed coverage on Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price target for the company. Wells Fargo & Company decreased 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. Finally, Piper Sandler upped their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.59.

Check Out Our Latest Report on Allstate

Insider Activity

In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 4,873 shares in the company, valued at approximately $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 accessible through this hyperlink. 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 sale, the insider now owns 27,364 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of NYSE ALL opened at $195.44 on Friday. The Allstate Co. has a 1 year low of $121.70 and a 1 year high of $198.79. The stock has a fifty day moving average price of $186.66 and a two-hundred day moving average price of $173.80. The firm has a market cap of $51.58 billion, a P/E ratio of 43.14, 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 – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the prior year, the firm earned ($4.42) EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts forecast that The Allstate Co. will post 15.19 EPS for the current fiscal year.

About Allstate

(Free Report)

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.

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