BG Investment Services LLC Acquires New Stake in The Allstate Corporation $ALL

Key Points

• BG Investment Services LLC acquired 29,301 Allstate shares worth approximately $6.5 million in the third quarter, making Allstate its 29th-largest holding. Institutional investors collectively own 76.47% of the insurer.
• Allstate’s latest quarter exceeded expectations, with EPS of $8.99 versus the $6.06 consensus and revenue of $18.6 billion, up 11.8% year over year. Analysts expect full-year EPS of approximately $36.21.
• Analyst sentiment remains mixed: Bank of America raised its price target to $340, but the overall consensus rating is Hold with a $270.19 target, while KBW and Barclays maintain bearish views. Two senior insiders also significantly reduced their holdings through stock sales.

BG Investment Services LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,301 shares of the insurance provider's stock, valued at approximately $6,501,000. Allstate accounts for approximately 1.0% of BG Investment Services LLC's portfolio, making the stock its 29th biggest holding.

Several other large investors also recently added to or reduced their stakes in the company. Gables Capital Management Inc. bought a new stake in Allstate in the 2nd quarter valued at about $26,000. Allied Private Wealth LLC purchased a new stake in Allstate during the second quarter valued at about $29,000. Kelleher Financial Advisors purchased a new stake in Allstate during the second quarter valued at about $28,000. Transamerica Financial Advisors LLC bought a new position in Allstate during the second quarter worth about $32,000. Finally, Highland Investment Advisors LLC bought a new position in Allstate during the second quarter worth about $31,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Key Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate prevailed in a Texas coverage dispute involving a vacant property. The ruling supports the insurer’s ability to enforce policy vacancy provisions, potentially limiting claims costs and reinforcing underwriting discipline. Vacant clause can void cover: US court backs Allstate in Texas case
• Positive Sentiment: Allstate retained $9,000 in a subrogation-related dispute after a court placed the premature filing cost on the opposing liability carrier. The financial impact is small, but the decision may support Allstate’s claims-handling position. Allstate keeps $9,000 as premature subrogation cost falls on liability carrier
• Positive Sentiment: Bank of America raised its price target on Allstate to $340 from $336, signaling continued confidence in the insurer’s earnings outlook and valuation. BofA raises target from $336 to $340
• Positive Sentiment: A valuation-focused analysis said Allstate still appears inexpensive despite a 131% advance, potentially attracting investors who expect further benefits from strong insurance pricing and improved profitability. Allstate stock still looks cheap after its 131% run
• Neutral Sentiment: Allstate shares gained 3.76% in the referenced session, although KBW maintained its Sell rating, highlighting a disconnect between short-term trading momentum and analyst conviction. KBW keeps Sell rating
• Neutral Sentiment: UBS reiterated its Hold rating, offering no new catalyst but indicating the firm sees limited justification for changing its current view. UBS keeps Hold rating
• Negative Sentiment: Analysts expect Allstate’s third-quarter earnings per share to decline by double digits year over year, creating concern ahead of the company’s November earnings release. What to expect from Allstate’s next quarterly earnings report
• Negative Sentiment: KBW’s continued Sell rating remains a notable overhang, suggesting the firm believes Allstate’s strong rally has outpaced its fundamental value. KBW keeps Sell rating
• Negative Sentiment: The price target for Allstate’s preferred stock was reduced 12.29% to $19.21, signaling weaker expectations for that security, although it does not directly change the valuation of the common shares. Allstate preferred stock price target decreased

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 56,225 shares of the company's 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Dugenske sold 32,996 shares of Allstate stock in a transaction dated 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 completion of the transaction, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Allstate from $336.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, October 12th. JPMorgan Chase & Co. increased their target price on Allstate from $282.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Allstate from a "buy (a-)" rating to a "buy (a)" rating in a research note on Wednesday, October 14th. Mizuho lowered their price target on shares of Allstate from $300.00 to $295.00 and set an "outperform" rating on the stock in a report on Wednesday, October 7th. Finally, Barclays cut their price objective on shares of Allstate from $226.00 to $221.00 and set an "underweight" rating for the company in a research report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $270.19.

Allstate Stock Down 2.3%

Shares of ALL opened at $253.24 on Friday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year 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. The stock has a 50 day simple moving average of $245.78 and a two-hundred day simple moving average of $236.63. The firm has a market cap of $64.03 billion, a P/E ratio of 5.06, a P/E/G ratio of 0.56 and a beta of 0.13.

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

Allstate 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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