The Allstate Corporation $ALL Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Allstate stake by 85.6% in the third quarter, selling 14,404 shares and retaining 2,418 shares valued at approximately $536,000. Institutional investors collectively own 76.47% of Allstate.
• Allstate reported strong latest-quarter results, with EPS of $8.99 versus the $6.06 consensus estimate and revenue up 11.8% year over year to $18.60 billion.
• Analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $270.19, while KBW maintains a Sell rating and analysts expect double-digit year-over-year EPS declines in the upcoming quarter.

Axxcess Wealth Management LLC lessened its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 85.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,418 shares of the insurance provider's stock after selling 14,404 shares during the quarter. Axxcess Wealth Management LLC's holdings in Allstate were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. Sawyer & Company Inc purchased a new stake in Allstate in the 3rd quarter worth approximately $2,690,000. City State Bank increased its stake in shares of Allstate by 26.5% during the 3rd quarter. City State Bank now owns 277 shares of the insurance provider's stock valued at $61,000 after acquiring an additional 58 shares during the last quarter. Capstone Capital Management Ltd purchased a new position in shares of Allstate during the 3rd quarter worth about $962,000. Innova Wealth Partners lifted its holdings in shares of Allstate by 32.9% during the 3rd quarter. Innova Wealth Partners now owns 2,245 shares of the insurance provider's stock worth $498,000 after acquiring an additional 556 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Allstate by 8.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 113,481 shares of the insurance provider's stock worth $25,299,000 after acquiring an additional 9,006 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate prevailed in a Texas coverage dispute involving a vacant property. The ruling supports the insurer’s ability to enforce policy vacancy provisions, potentially limiting claims costs and reinforcing underwriting discipline. Vacant clause can void cover: US court backs Allstate in Texas case
• Positive Sentiment: Allstate retained $9,000 in a subrogation-related dispute after a court placed the premature filing cost on the opposing liability carrier. The financial impact is small, but the decision may support Allstate’s claims-handling position. Allstate keeps $9,000 as premature subrogation cost falls on liability carrier
• Positive Sentiment: Bank of America raised its price target on Allstate to $340 from $336, signaling continued confidence in the insurer’s earnings outlook and valuation. BofA raises target from $336 to $340
• Positive Sentiment: A valuation-focused analysis said Allstate still appears inexpensive despite a 131% advance, potentially attracting investors who expect further benefits from strong insurance pricing and improved profitability. Allstate stock still looks cheap after its 131% run
• Neutral Sentiment: Allstate shares gained 3.76% in the referenced session, although KBW maintained its Sell rating, highlighting a disconnect between short-term trading momentum and analyst conviction. KBW keeps Sell rating
• Neutral Sentiment: UBS reiterated its Hold rating, offering no new catalyst but indicating the firm sees limited justification for changing its current view. UBS keeps Hold rating
• Negative Sentiment: Analysts expect Allstate’s third-quarter earnings per share to decline by double digits year over year, creating concern ahead of the company’s November earnings release. What to expect from Allstate’s next quarterly earnings report
• Negative Sentiment: KBW’s continued Sell rating remains a notable overhang, suggesting the firm believes Allstate’s strong rally has outpaced its fundamental value. KBW keeps Sell rating
• Negative Sentiment: The price target for Allstate’s preferred stock was reduced 12.29% to $19.21, signaling weaker expectations for that security, although it does not directly change the valuation of the common shares. Allstate preferred stock price target decreased

Allstate Trading Up 0.0%

NYSE ALL opened at $253.24 on Monday. The firm has a market capitalization of $64.03 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 0.56 and a beta of 0.13. 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 Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The company's 50 day moving average price is $245.78 and its 200 day moving average price is $236.83.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) 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 the consensus estimate of $15.46 billion. During the same period in the previous year, the firm earned $5.94 earnings per share. Allstate's revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that The Allstate Corporation will post 36.21 EPS for the current year.

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 56,225 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value 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 trade represents a 40.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Dugenske sold 32,996 shares of Allstate stock in a transaction 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALL shares. Atlantic Securities set a $319.00 target price on shares of Allstate in a research report on Wednesday, July 15th. Jefferies Financial Group dropped their price target on shares of Allstate from $310.00 to $292.00 and set a "buy" rating for the company in a research report on Tuesday, October 6th. HSBC raised shares of Allstate from a "hold" rating to a "buy" rating and set a $266.00 price target for the company in a research report on Wednesday, October 7th. Wall Street Zen downgraded shares of Allstate from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, TD Cowen lifted their price target on shares of Allstate from $231.00 to $260.00 and gave the company a "hold" rating in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $270.19.

Allstate 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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