5,174 Shares in The Allstate Corporation $ALL Bought by Brindle & Bay Financial Advisors LLC

Key Points

• Brindle & Bay Financial Advisors acquired 5,174 Allstate shares worth approximately $1.15 million in the third quarter. Institutional investors collectively own 76.47% of the insurer.
• Allstate reported stronger-than-expected quarterly results, with $8.99 earnings per share versus the $6.06 consensus estimate and revenue of $18.60 billion, up 11.8% year over year.
• Analyst sentiment remains mixed: Allstate has a consensus “Hold” rating and an average price target of $270.19, while two company insiders recently sold substantial portions of their holdings.

Brindle & Bay Financial Advisors LLC acquired a new position in The Allstate Corporation (NYSE:ALL - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,174 shares of the insurance provider's stock, valued at approximately $1,148,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gables Capital Management Inc. purchased a new position in shares of Allstate in the second quarter worth $26,000. Allied Private Wealth LLC bought a new position in shares of Allstate during the second quarter valued at $29,000. Kelleher Financial Advisors purchased a new stake in shares of Allstate during the second quarter valued at $28,000. MV Capital Management Inc. purchased a new stake in shares of Allstate during the fourth quarter valued at $25,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in shares of Allstate during the second quarter valued at $32,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Up 1.4%

Shares of ALL stock opened at $239.41 on Friday. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The stock has a market cap of $60.54 billion, a P/E ratio of 4.78, a P/E/G ratio of 0.52 and a beta of 0.13. 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 company has a 50 day simple moving average of $247.16 and a two-hundred day simple moving average of $234.95.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business had revenue of $18.60 billion for the quarter, compared to analysts' expectations of $15.46 billion. During the same quarter last year, the company posted $5.94 EPS. The company's revenue was up 11.8% compared to the same quarter last year. On average, research analysts expect that The Allstate Corporation will post 36.00 earnings per share for the current year.

Insider Buying and Selling at Allstate

In related news, insider John Dugenske sold 32,996 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 13,054 shares of the company's stock, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on Allstate from $231.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, September 23rd. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 15th. Cantor Fitzgerald lifted their price target on shares of Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Evercore boosted their price objective on shares of Allstate from $240.00 to $262.00 in a report on Thursday, October 8th. Finally, Barclays decreased their price objective on shares of Allstate from $226.00 to $221.00 and set an "underweight" rating for the company in a report on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $270.19.

Allstate Profile

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.

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