Buck Wealth Strategies LLC Purchases New Stake in The Allstate Corporation $ALL

Key Points

• Buck Wealth Strategies LLC opened a new position in Allstate during the fourth quarter, buying 46,745 shares valued at about $9.73 million.
• Allstate’s latest quarterly results came in well above expectations, with EPS of $10.65 versus the $7.31 consensus and revenue of $16.94 billion beating estimates. The company also reported strong profitability, including a 42.66% return on equity.
• Despite a modest 0.3% decline in the stock on Friday, analysts remain generally positive overall, with a Moderate Buy average rating and a consensus price target of $241.67.

Buck Wealth Strategies LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 46,745 shares of the insurance provider's stock, valued at approximately $9,730,000.

Several other hedge funds have also modified their holdings of ALL. Brighton Jones LLC raised its holdings in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate during the 4th quarter valued at about $231,000. WINTON GROUP Ltd purchased a new stake in shares of Allstate during the 2nd quarter valued at about $210,000. Treasurer of the State of North Carolina raised its holdings in shares of Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock valued at $24,816,000 after buying an additional 3,051 shares during the period. Finally, Ieq Capital LLC raised its holdings in shares of Allstate by 20.1% during the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock valued at $7,713,000 after buying an additional 6,412 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 0.3%

Shares of ALL stock opened at $213.01 on Friday. 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 Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $222.23. The stock has a fifty day moving average of $210.90 and a two-hundred day moving average of $206.26. The firm has a market capitalization of $54.83 billion, a PE ratio of 4.70, a price-to-earnings-growth ratio of 0.40 and a beta of 0.21.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $3.53 EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that The Allstate Corporation will post 28.26 EPS for the current year.

Insider Transactions at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.55% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several analyst reports. Wall Street Zen downgraded Allstate from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Citigroup lifted their price objective on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. The Goldman Sachs Group restated a "neutral" rating and set a $231.00 price objective on shares of Allstate in a report on Thursday, March 5th. Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, March 23rd. Finally, TD Cowen downgraded Allstate from a "buy" rating to a "hold" rating in a report on Monday, January 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $241.67.

Allstate Company Profile

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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