The Allstate Corporation $ALL Stock: Krilogy Financial LLC Raises Holdings

Key Points

• Krilogy Financial more than doubled its Allstate stake in the third quarter, increasing holdings by 106.7% to 10,754 shares valued at approximately $2.2 million. Institutional investors and hedge funds collectively own 76.47% of the company.
• Allstate insiders reduced their holdings substantially, with COO Mario Rizzo selling 56,225 shares and John E. Dugenske selling 32,996 shares. Company insiders now own 1.55% of the stock.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $270.19. Allstate recently beat quarterly earnings expectations, reporting $8.99 in EPS versus the $6.06 consensus estimate.

Krilogy Financial LLC grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 106.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,754 shares of the insurance provider's stock after purchasing an additional 5,552 shares during the quarter. Krilogy Financial LLC's holdings in Allstate were worth $2,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. MV Capital Management Inc. acquired a new position in Allstate during the 4th quarter valued at approximately $25,000. Gables Capital Management Inc. bought a new position in Allstate during the 2nd quarter worth $26,000. Kelleher Financial Advisors bought a new position in Allstate during the 2nd quarter worth $28,000. Evolution Wealth Management Inc. increased its position in Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock worth $29,000 after buying an additional 140 shares during the period. Finally, Allied Private Wealth LLC acquired a new stake in Allstate in the second quarter worth $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 owned 82,227 shares of the company's stock, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction 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 $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. 1.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ALL has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Allstate from $265.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 6th. Atlantic Securities set a $319.00 price target on shares of Allstate in a research report on Wednesday, July 15th. Evercore upped their price target on shares of Allstate from $240.00 to $262.00 in a research report on Thursday, October 8th. Bank of America increased their price objective on shares of Allstate from $336.00 to $340.00 and gave the stock a "buy" rating in a report on Monday. Finally, Jefferies Financial Group dropped their price objective on shares of Allstate from $310.00 to $292.00 and set a "buy" rating on the stock in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Allstate has a consensus rating of "Hold" and a consensus target price of $270.19.

Allstate Stock Down 0.2%

ALL opened at $236.00 on Thursday. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $59.67 billion, a P/E ratio of 4.71, a P/E/G ratio of 0.53 and a beta of 0.13. The stock's 50 day moving average price is $247.88 and its 200 day moving average price is $234.70.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the previous year, the business earned $5.94 EPS. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts predict that The Allstate Corporation will post 35.83 earnings per share for the current year.

Allstate Company 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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