4,065 The Allstate Corporation $ALL Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 46.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,817 shares of the insurance provider's stock after purchasing an additional 4,065 shares during the period. Apollon Wealth Management LLC's holdings in Allstate were worth $2,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Gables Capital Management Inc. acquired a new stake in shares of Allstate during the second quarter worth approximately $26,000. Allied Private Wealth LLC acquired a new position in Allstate in the 2nd quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new position in Allstate in the 2nd quarter valued at approximately $28,000. Transamerica Financial Advisors LLC acquired a new position in Allstate in the 2nd quarter valued at approximately $32,000. Finally, Highland Investment Advisors LLC purchased a new stake in Allstate in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Down 0.7%

Shares of NYSE:ALL opened at $249.98 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $63.21 billion, a PE ratio of 4.99, a P/E/G ratio of 0.56 and a beta of 0.13. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The firm has a fifty day moving average price of $245.37 and a 200 day moving average price of $227.65.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The business's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $5.94 earnings per share. Analysts expect that The Allstate Corporation will post 36.21 EPS for the current fiscal year.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Dugenske sold 32,996 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares of the company's stock, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ALL. Wells Fargo & Company raised shares of Allstate from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $250.00 to $236.00 in a research note on Monday, October 12th. Piper Sandler reaffirmed an "overweight" rating on shares of Allstate in a research note on Monday, September 28th. Wall Street Zen lowered Allstate from a "strong-buy" rating to a "buy" rating in a report on Sunday. Cantor Fitzgerald increased their price objective on Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, HSBC raised Allstate from a "hold" rating to a "buy" rating and set a $266.00 price objective for the company in a research report on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $270.19.

Allstate Company Profile

Allstate Corp. NYSE: ALL is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.

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