87,846 The Allstate Corporation $ALL Shares Bought by Barlow Wealth Partners LLC

Key Points

• Barlow Wealth Partners increased its Allstate stake by 1,487.7% in the third quarter, purchasing 87,846 additional shares and bringing its holdings to 93,751 shares valued at approximately $20.8 million.
• Institutional investors and hedge funds own 76.47% of Allstate’s outstanding stock, while several other firms also increased or initiated positions during recent quarters.
• Allstate reported quarterly EPS of $8.99, well above the $6.06 analyst consensus, and revenue of $18.60 billion. Despite strong results, analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $270.19.

Barlow Wealth Partners LLC grew its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 1,487.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,751 shares of the insurance provider's stock after purchasing an additional 87,846 shares during the period. Allstate makes up 2.2% of Barlow Wealth Partners LLC's portfolio, making the stock its 23rd biggest holding. Barlow Wealth Partners LLC's holdings in Allstate were worth $20,800,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALL. Strategic Global Advisors LLC bought a new stake in Allstate in the second quarter valued at about $11,680,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Allstate in the second quarter worth $6,861,000. Bank of America Corp DE bought a new stake in Allstate during the 2nd quarter worth about $1,410,362,000. QRG Capital Management Inc. boosted its stake in shares of Allstate by 82.1% during the 2nd quarter. QRG Capital Management Inc. now owns 94,687 shares of the insurance provider's stock worth $22,427,000 after buying an additional 42,690 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC grew its holdings in shares of Allstate by 130.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider's stock valued at $4,016,000 after acquiring an additional 10,936 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Price Performance

Shares of ALL opened at $239.41 on Friday. The firm has a market capitalization of $60.54 billion, a PE ratio of 5.23, a PEG ratio of 0.52 and a beta of 0.13. The company's 50-day moving average is $247.16 and its 200-day moving average is $234.95. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

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

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of the company'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 transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Dugenske sold 32,996 shares of the 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 transaction, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Allstate from $310.00 to $292.00 and set a "buy" rating on the stock in a research report on Tuesday, October 6th. Citigroup cut their price objective on Allstate from $240.00 to $215.00 and set a "sell" rating for the company in a report on Friday, October 2nd. Keefe, Bruyette & Woods cut their price target on shares of Allstate from $250.00 to $232.00 and set an "underperform" rating for the company in a research note on Monday. TD Cowen lifted their price objective on shares of Allstate from $231.00 to $260.00 and gave the company a "hold" rating in a research report on Wednesday, September 23rd. Finally, UBS Group boosted their price objective on shares of Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has an average rating of "Hold" and a consensus target price of $270.19.

About Allstate

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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