Sawyer & Company Inc Buys 12,125 Shares of The Allstate Corporation $ALL

Key Points

• Sawyer & Company initiated a position in Allstate by purchasing 12,125 shares worth approximately $2.69 million during the third quarter. Institutional investors collectively own 76.47% of Allstate’s stock.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $270.19; recent actions included both upgrades and target-price reductions.
• Allstate reported strong quarterly results, earning $8.99 per share versus the $6.06 estimate and generating $18.60 billion in revenue, up 11.8% year over year. Shares recently traded near $249.57, while two insiders disclosed sizable stock sales.

Sawyer & Company Inc bought a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,125 shares of the insurance provider's stock, valued at approximately $2,690,000.

Several other large investors have also made changes to their positions in ALL. BlackRock Inc. bought a new position in Allstate during the 2nd quarter valued at about $5,439,448,000. Bank of America Corp DE grew its stake in Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock worth $1,640,748,000 after buying an additional 596,321 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Allstate during the second quarter worth approximately $1,245,710,000. Deutsche Bank AG acquired a new stake in shares of Allstate during the second quarter worth approximately $1,008,648,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Allstate by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider's stock worth $581,515,000 after buying an additional 154,259 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALL shares. Mizuho cut their target price on shares of Allstate from $300.00 to $295.00 and set an "outperform" rating for the company in a research note on Wednesday, October 7th. Weiss Ratings upgraded Allstate from a "buy (a-)" rating to a "buy (a)" rating in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods decreased their price target on Allstate from $250.00 to $232.00 and set an "underperform" rating on the stock in a research report on Monday, October 12th. The Goldman Sachs Group dropped their price target on Allstate from $280.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, October 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Allstate from $282.00 to $292.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $270.19.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company's stock.

Allstate Price Performance

ALL traded down $0.34 during midday trading on Wednesday, hitting $249.57. The company had a trading volume of 455,467 shares, compared to its average volume of 1,755,933. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $63.11 billion, a PE ratio of 4.99, a P/E/G ratio of 0.55 and a beta of 0.13. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The firm's 50-day simple moving average is $246.08 and its 200-day simple moving average is $235.84.

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 analysts' consensus estimates 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 the consensus estimate of $15.46 billion. During the same period in the previous year, the firm posted $5.94 earnings per share. The company's revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that The Allstate Corporation will post 36.20 EPS for the current fiscal year.

Allstate Company Profile

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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