The Allstate Corporation $ALL Shares Acquired by MGO One Seven LLC

Key Points

• MGO One Seven LLC increased its Allstate stake by 59.2% in the fourth quarter, adding 6,400 shares and bringing its total holding to 17,215 shares worth about $3.58 million.
• Allstate reported strong quarterly results, with EPS of $10.65 versus the $7.31 consensus and revenue of $16.94 billion, both ahead of estimates. Revenue was also up 3.0% year over year.
• Despite the solid earnings, there was notable insider activity as COO Mario Rizzo sold 18,578 shares in early May, while analysts currently rate the stock a Moderate Buy with an average price target of $241.67.

MGO One Seven LLC grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 59.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,215 shares of the insurance provider's stock after purchasing an additional 6,400 shares during the period. MGO One Seven LLC's holdings in Allstate were worth $3,583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. Dorato Capital Management purchased a new position in Allstate in the 4th quarter worth about $27,000. Palisade Asset Management LLC purchased a new stake in Allstate during the third quarter valued at about $31,000. Princeton Global Asset Management LLC lifted its stake in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock valued at $31,000 after buying an additional 76 shares in the last quarter. South Plains Financial Inc. lifted its stake in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock valued at $36,000 after buying an additional 49 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Allstate in the third quarter worth about $37,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

ALL stock opened at $213.01 on Friday. The firm has a 50 day simple moving average of $210.90 and a 200 day simple moving average of $206.26. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $222.23. The stock has a market cap of $54.83 billion, a P/E ratio of 4.70, a P/E/G ratio of 0.40 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business earned $3.53 EPS. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that The Allstate Corporation will post 28.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.55% of the company's stock.

Analysts Set New Price Targets

ALL has been the topic of several analyst reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Mizuho decreased their price objective on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. Barclays lifted their price objective on shares of Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 8th. Raymond James Financial reissued a "strong-buy" rating and set a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company raised their target price on Allstate from $229.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Allstate presently has an average rating of "Moderate Buy" and an average price target of $241.67.

About Allstate

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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