Bokf Na Decreases Stake in The Allstate Corporation $ALL

Key Points

• Bokf Na lowered its stake in The Allstate Corporation by 10.5%, selling 7,280 shares and finishing the quarter with 61,917 shares valued at about $12.89 million.
• Allstate beat expectations in the most recent quarter with EPS of $10.65 (vs. $7.31 consensus) and revenue of $16.94 billion (vs. $15.24 billion), producing a net margin of 17.81% and ROE of 42.66%.
• COO Mario Rizzo sold 18,578 shares for roughly $4.06 million (an 18.43% reduction in his stake); analysts have a consensus "Moderate Buy" rating with a $240.56 price target and institutions own 76.47% of the stock.

Bokf Na lowered its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,917 shares of the insurance provider's stock after selling 7,280 shares during the period. Bokf Na's holdings in Allstate were worth $12,888,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC increased its stake in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider's stock worth $30,000 after acquiring an additional 73 shares during the period. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter worth $27,000. Palisade Asset Management LLC acquired a new stake in shares of Allstate in the third quarter worth $31,000. Princeton Global Asset Management LLC increased its stake in shares of Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock worth $31,000 after acquiring an additional 76 shares during the period. Finally, South Plains Financial Inc. increased its stake in shares of Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock worth $36,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Down 0.6%

ALL stock opened at $218.55 on Wednesday. The firm has a market cap of $56.26 billion, a PE ratio of 4.82, a P/E/G ratio of 0.43 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm's fifty day moving average is $210.59 and its 200 day moving average is $205.97. The Allstate Corporation has a one year low of $188.08 and a one year high of $222.23.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $3.53 earnings per share. On average, research analysts forecast that The Allstate Corporation will post 27.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALL. TD Cowen lowered shares of Allstate from a "buy" rating to a "hold" rating in a research note on Monday, January 12th. Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Citigroup increased their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Piper Sandler raised their price target on shares of Allstate from $252.00 to $268.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Barclays raised their price target on shares of Allstate from $207.00 to $208.00 and gave the company an "underweight" rating in a research report on Wednesday, April 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus price target of $240.56.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.55% of the company's stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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