The Allstate Corporation $ALL Stock Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC increased its Allstate stake by 35% in the third quarter, bringing its holdings to 16,679 shares valued at approximately $3.85 million. Institutional investors collectively own 76.47% of Allstate’s stock.
• Analyst sentiment remains mixed: Bank of America raised its target to $340 and Wells Fargo upgraded the stock to Equal Weight, while Morgan Stanley and Keefe, Bruyette & Woods lowered their targets. The overall consensus rating is Hold, with an average price target of $270.19.
• Allstate recently beat quarterly earnings and revenue expectations, reporting $8.99 in earnings per share and $18.60 billion in revenue. However, rising claims costs and questions about Protection Services margins remain potential risks.

NorthCrest Asset Manangement LLC boosted its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 35.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,679 shares of the insurance provider's stock after buying an additional 4,323 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Allstate were worth $3,847,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Gables Capital Management Inc. purchased a new stake in shares of Allstate in the 2nd quarter valued at approximately $26,000. Allied Private Wealth LLC purchased a new position in shares of Allstate during the 2nd quarter worth approximately $29,000. Kelleher Financial Advisors purchased a new position in shares of Allstate during the 2nd quarter worth approximately $28,000. MV Capital Management Inc. acquired a new stake in Allstate in the 4th quarter valued at approximately $25,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in Allstate in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Key Stories Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Bank of America raised its price target for Allstate to $340 from $336 and maintained a Buy rating, implying substantial upside from recent trading levels. Bank of America raises target for Allstate stock
• Positive Sentiment: Wells Fargo upgraded Allstate to Equal Weight from Underweight, reducing a source of bearish analyst pressure even though the new rating remains neutral. Wells Fargo upgrades Allstate
• Positive Sentiment: Allstate scheduled its next quarterly results for November 4. The announcement gives investors a near-term catalyst to assess premium growth, claims trends and profitability. Allstate schedules November results
• Neutral Sentiment: Allstate shares closed at approximately $232.60 in the latest session, gaining while the overall market declined, indicating relative investor strength. Allstate ascends while market falls
• Negative Sentiment: Morgan Stanley cut its price target to $240, while Keefe, Bruyette & Woods lowered its target to $232 and assigned an Underperform rating. These calls suggest limited upside and reflect concerns about valuation or operating performance. Morgan Stanley cuts Allstate target
• Negative Sentiment: Allstate’s Protection Services revenue grew 7.8% in the second quarter, but declining earnings and rising claims costs raise questions about whether growth can translate into higher margins. Allstate Protection Services margins
• Negative Sentiment: Following Hurricane Isaias, Allstate is providing mobile claims centers and other customer support in Alabama and the Florida Keys. The response supports retention and customer service, but storm-related claims could increase catastrophe losses and pressure near-term results. Allstate supports customers after Hurricane Isaias

Analysts Set New Price Targets

ALL has been the topic of a number of research analyst reports. Wells Fargo & Company raised Allstate from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $250.00 to $236.00 in a research report on Monday. Jefferies Financial Group dropped their price objective on Allstate from $310.00 to $292.00 and set a "buy" rating for the company in a research note on Tuesday, October 6th. Argus set a $238.00 price objective on Allstate in a report on Friday, August 28th. Mizuho decreased their target price on Allstate from $300.00 to $295.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 7th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $315.00 target price (up from $300.00) on shares of Allstate in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $270.19.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mario Rizzo sold 56,225 shares of Allstate 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 transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company's stock.

Allstate Stock Performance

Shares of ALL stock opened at $236.45 on Wednesday. The firm has a 50 day moving average of $248.44 and a two-hundred day moving average of $234.49. The stock has a market capitalization of $59.79 billion, a PE ratio of 5.16, a P/E/G ratio of 0.52 and a beta of 0.13. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data 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. 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 company's revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.94 earnings per share. On average, research analysts predict that The Allstate Corporation will post 35.83 EPS for the current fiscal year.

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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