Generali Asset Management SPA SGR Has $5.52 Million Stock Holdings in The Allstate Corporation $ALL

Key Points

• Generali Asset Management increased its stake in Allstate by 34.3% in the fourth quarter, ending with 26,514 shares valued at about $5.52 million.
• Allstate recently reported strong quarterly earnings, posting EPS of $10.65 versus the $7.31 consensus estimate, while revenue came in at $16.94 billion, also above expectations.
• Wall Street sentiment is mixed but still constructive: the stock carries a Moderate Buy consensus with a price target of $241.67, though some analysts have recently lowered or maintained ratings.

Generali Asset Management SPA SGR boosted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 34.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,514 shares of the insurance provider's stock after acquiring an additional 6,777 shares during the quarter. Generali Asset Management SPA SGR's holdings in Allstate were worth $5,519,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ALL. Dorato Capital Management bought a new stake in shares of Allstate in the fourth quarter worth $27,000. Princeton Global Asset Management LLC increased its holdings in Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 76 shares during the period. Palisade Asset Management LLC bought a new position in Allstate during the 3rd quarter worth $31,000. South Plains Financial Inc. raised its position in Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock worth $36,000 after purchasing an additional 49 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Allstate during the 3rd quarter worth about $37,000. Institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, March 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Keefe, Bruyette & Woods upped their target price on Allstate from $260.00 to $266.00 and gave the company an "outperform" rating in a report on Thursday. Mizuho decreased their target price on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research report on Friday, March 20th. Finally, Wall Street Zen lowered shares of Allstate from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.67.

Allstate Stock Performance

Shares of Allstate stock opened at $213.01 on Friday. The business has a 50-day moving average price of $210.90 and a two-hundred day moving average price of $206.26. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $222.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $54.83 billion, a P/E ratio of 4.70, a PEG ratio of 0.40 and a beta of 0.21.

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

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 18,578 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.55% of the company's stock.

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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