The Allstate Corporation $ALL Stock Holdings Lessened by Truist Financial Corp

Key Points

• Truist Financial reduced its stake in Allstate by 6.8% in Q4, selling 8,335 shares and leaving it with 115,126 shares valued at about $23.96 million.
• Allstate crushed estimates—reporting $10.65 EPS versus $7.31 expected and $16.94 billion in revenue versus $15.24 billion—while analysts maintain a consensus "Moderate Buy" with a $241.33 price target.
• Insider activity: COO Mario Rizzo sold 18,578 shares for roughly $4.06 million (an 18.43% cut to his position), and company insiders now own about 1.55% of the stock.

Truist Financial Corp reduced its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 115,126 shares of the insurance provider's stock after selling 8,335 shares during the quarter. Truist Financial Corp's holdings in Allstate were worth $23,964,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dorato Capital Management purchased a new stake in Allstate in the 4th quarter worth approximately $27,000. Barnes Dennig Private Wealth Management LLC grew its holdings in shares of Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock worth $31,000 after acquiring an additional 76 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Allstate during the third quarter worth $31,000. Finally, South Plains Financial Inc. raised its holdings in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock worth $36,000 after acquiring an additional 49 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 0.3%

Allstate stock opened at $217.95 on Thursday. The Allstate Corporation has a one year low of $188.08 and a one year high of $222.23. The company's fifty day moving average price is $210.82 and its two-hundred day moving average price is $206.14. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $56.11 billion, a price-to-earnings ratio of 4.81, a PEG ratio of 0.42 and a beta of 0.21.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.53 earnings per share. On average, analysts forecast that The Allstate Corporation will post 27.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Allstate from $260.00 to $263.00 and gave the company an "overweight" rating in a research note on Thursday, February 5th. Mizuho reduced their price target on Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Weiss Ratings raised Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, March 23rd. Wall Street Zen downgraded Allstate from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.33.

Insiders Place Their Bets

In related news, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value 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. The trade was a 18.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.55% of the company's stock.

Allstate Company Profile

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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