The Allstate Corporation $ALL Stock Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its Allstate stake by 48.9% in the third quarter, holding 19,428 shares worth approximately $4.03 million. Institutional investors and hedge funds collectively own 76.47% of Allstate.
• 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 expect full-year earnings of $35.83 per share.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $262.26; meanwhile, two insiders sold a combined $23.76 million in shares.

Farther Finance Advisors LLC lifted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 48.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,428 shares of the insurance provider's stock after buying an additional 6,379 shares during the quarter. Farther Finance Advisors LLC's holdings in Allstate were worth $4,033,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. MV Capital Management Inc. acquired a new stake in shares of Allstate during the fourth quarter worth about $25,000. Gables Capital Management Inc. acquired a new position in shares of Allstate in the second quarter valued at approximately $26,000. Kelleher Financial Advisors acquired a new position in shares of Allstate in the second quarter valued at approximately $28,000. Evolution Wealth Management Inc. grew its holdings in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Allied Private Wealth LLC acquired a new position in shares of Allstate in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Up 0.0%

ALL opened at $229.48 on Monday. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The company has a market cap of $58.03 billion, a P/E ratio of 4.58, a PEG ratio of 0.51 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 business's 50-day simple moving average is $249.57 and its 200-day simple moving average is $234.09.

Allstate (NYSE:ALL - Get Free Report) last issued 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. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The business's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $5.94 EPS. As a group, equities research analysts expect that The Allstate Corporation will post 35.83 EPS for the current fiscal year.

Insider Activity

In other news, insider John E. Dugenske sold 32,996 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares of the company's stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction dated 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 completion of the sale, the chief operating officer directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALL. Morgan Stanley cut their target price on shares of Allstate from $265.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 6th. Cantor Fitzgerald raised their price target on shares of Allstate from $236.00 to $242.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Atlantic Securities set a $319.00 price target on shares of Allstate in a research note on Wednesday, July 15th. HSBC raised Allstate from a "hold" rating to a "buy" rating and set a $266.00 price objective on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $250.00 price objective (down from $255.00) on shares of Allstate in a research note on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $262.26.

Allstate Profile

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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