Diversify Advisory Services LLC Acquires 11,965 Shares of The Allstate Corporation $ALL

Key Points

• Diversify Advisory Services increased its Allstate stake by 126.6% in the third quarter, purchasing 11,965 additional shares and bringing its holdings to 21,415 shares valued at approximately $5.13 million.
• Allstate reported quarterly EPS of $8.99, well above the $6.06 consensus estimate, while revenue reached $18.60 billion and grew 11.8% year over year.
• Analyst sentiment remains mixed, with Allstate carrying an overall “Hold” rating and a consensus price target of $270.19, compared with shares recently opening at $250.98.

Diversify Advisory Services LLC lifted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 126.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,415 shares of the insurance provider's stock after purchasing an additional 11,965 shares during the quarter. Diversify Advisory Services LLC's holdings in Allstate were worth $5,131,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Allstate in the second quarter valued at approximately $5,439,448,000. Bank of America Corp DE acquired a new stake in Allstate during the second quarter worth approximately $1,410,362,000. GQG Partners LLC bought a new position in Allstate during the 2nd quarter worth $1,245,710,000. Deutsche Bank AG bought a new position in Allstate during the 2nd quarter worth $1,008,648,000. Finally, Legal & General Group Plc bought a new position in Allstate during the 2nd quarter worth $455,302,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of Allstate stock opened at $250.98 on Thursday. The company has a 50 day moving average of $245.98 and a 200-day moving average of $236.15. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. 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 market cap of $63.46 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 0.55 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $5.94 EPS. As a group, equities research analysts forecast that The Allstate Corporation will post 36.21 earnings per share for the current fiscal year.

Insider Activity at Allstate

In other Allstate news, insider John E. 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 sale, the insider 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 SEC, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the firm'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 directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by insiders.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on Allstate from $280.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, October 1st. HSBC raised Allstate from a "hold" rating to a "buy" rating and set a $266.00 target price on the stock in a report on Wednesday, October 7th. Atlantic Securities set a $319.00 target price on Allstate in a report on Wednesday, July 15th. Argus set a $238.00 price target on Allstate in a research report on Friday, August 28th. Finally, Keefe, Bruyette & Woods dropped their price target on Allstate from $250.00 to $232.00 and set an "underperform" rating for the company in a research note on Monday, October 12th. Two 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 issued a Sell rating to the stock. According to data from MarketBeat, Allstate has an average rating of "Hold" and a consensus price target of $270.19.

About Allstate

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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