Neumann Capital Management LLC Purchases New Stake in The Allstate Corporation $ALL

Key Points

• Neumann Capital Management acquired 10,636 Allstate shares worth approximately $2.36 million in the third quarter. Institutional investors collectively own 76.47% of Allstate’s stock.
• Allstate insiders recently sold substantial holdings: COO Mario Rizzo sold shares worth $14.87 million, while John E. Dugenske sold $8.89 million in stock.
• Allstate reported quarterly earnings of $8.99 per share, beating estimates of $6.06, while revenue rose 11.8% year over year to $18.60 billion. Analysts maintain a consensus “Hold” rating with a $270.19 price target.

Neumann Capital Management LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,636 shares of the insurance provider's stock, valued at approximately $2,360,000.

A number of other institutional investors have also recently added to or reduced their stakes in ALL. BlackRock Inc. acquired a new stake in shares of Allstate in the 2nd quarter worth $5,439,448,000. Bank of America Corp DE acquired a new position in shares of Allstate during the 2nd quarter valued at about $1,410,362,000. GQG Partners LLC acquired a new position in shares of Allstate during the 2nd quarter valued at about $1,245,710,000. Deutsche Bank AG acquired a new position in shares of Allstate during the 2nd quarter valued at about $1,008,648,000. Finally, Legal & General Group Plc purchased a new stake in shares of Allstate in the second quarter valued at about $455,302,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares of the company's stock, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.55% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ALL. TD Cowen raised their price objective on shares of Allstate from $231.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, September 23rd. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 15th. Roth Capital set a $300.00 target price on shares of Allstate in a report on Thursday, August 6th. BMO Capital Markets boosted their target price on shares of Allstate from $250.00 to $284.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Allstate from $250.00 to $232.00 and set an "underperform" rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $270.19.

Allstate Trading Up 1.4%

NYSE ALL opened at $239.41 on Friday. The firm's 50-day moving average is $247.16 and its two-hundred day moving average is $234.95. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $60.54 billion, a P/E ratio of 4.78, a PEG ratio of 0.52 and a beta of 0.13.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter last year, the firm posted $5.94 earnings per share. Allstate's revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Allstate Corporation will post 36.00 earnings per share for the current year.

About Allstate

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.

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