Generali Asset Management SPA SGR Acquires 13,671 Shares of The Allstate Corporation $ALL

Key Points

• Generali Asset Management SPA SGR significantly increased its stake in The Allstate Corporation by 72.5%, acquiring an additional 13,671 shares, bringing its total holdings to 32,523 shares valued at approximately $6.5 million.
• Allstate received several positive upgrades from analysts, with Wolfe Research rating it as a "strong-buy" and a consensus price target of $234.50, indicating strong market confidence.
• In its recent earnings report, Allstate posted an EPS of $5.94, surpassing expectations and showing a 5.8% year-over-year revenue increase, despite revenue slightly missing estimates.

Generali Asset Management SPA SGR boosted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 72.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,523 shares of the insurance provider's stock after purchasing an additional 13,671 shares during the quarter. Generali Asset Management SPA SGR's holdings in Allstate were worth $6,547,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new stake in Allstate in the 4th quarter valued at $231,000. GAMMA Investing LLC boosted its holdings in Allstate by 21.3% in the 1st quarter. GAMMA Investing LLC now owns 6,152 shares of the insurance provider's stock valued at $1,274,000 after purchasing an additional 1,082 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Allstate by 0.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 118,950 shares of the insurance provider's stock valued at $24,631,000 after buying an additional 631 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Allstate by 2.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 3,941 shares of the insurance provider's stock valued at $816,000 after buying an additional 99 shares during the period. Institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several analyst reports. Wolfe Research raised shares of Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. UBS Group upped their price objective on Allstate from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research note on Wednesday, August 13th. Finally, Citigroup upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.50.

Allstate Price Performance

ALL opened at $200.67 on Thursday. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company's 50 day simple moving average is $206.03 and its 200-day simple moving average is $201.06. The stock has a market capitalization of $52.88 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm's revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.61 EPS. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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