The Allstate Corporation $ALL Stock Purchased by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its Allstate stake by 155.3% in the third quarter, adding 77,789 shares to bring its holding to 127,893 shares, valued at about $28.4 million.
• Allstate reported quarterly earnings of $9.76 per share, beating the $6.89 consensus estimate, and revenue of $17.35 billion, above analyst expectations.
• Analysts’ average rating was “Hold,” with an average price target of $273.48. Allstate also announced a quarterly dividend of $1.08 per share.

Eurizon Capital SGR S.p.A. increased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 155.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,893 shares of the insurance provider's stock after buying an additional 77,789 shares during the quarter. Eurizon Capital SGR S.p.A. owned 0.05% of Allstate worth $28,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Werba Rubin Papier Wealth Management boosted its stake in Allstate by 3.5% in the 3rd quarter. Werba Rubin Papier Wealth Management now owns 2,746 shares of the insurance provider's stock worth $609,000 after purchasing an additional 94 shares in the last quarter. R Squared Ltd acquired a new position in Allstate during the 3rd quarter valued at approximately $436,000. Banyan Capital Management Inc. acquired a new stake in Allstate during the 3rd quarter worth about $400,000. Maryland State Retirement & Pension System lifted its position in Allstate by 13.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 15,600 shares of the insurance provider's stock worth $3,461,000 after acquiring an additional 1,848 shares during the period. Finally, Ritholtz Wealth Management raised its stake in shares of Allstate by 27.3% in the third quarter. Ritholtz Wealth Management now owns 21,916 shares of the insurance provider's stock worth $4,862,000 after purchasing an additional 4,696 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

ALL opened at $267.82 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a fifty day moving average price of $246.15 and a 200 day moving average price of $231.53. The Allstate Corporation has a 1 year low of $191.13 and a 1 year high of $281.11. The stock has a market cap of $66.27 billion, a P/E ratio of 6.06, a P/E/G ratio of 1.19 and a beta of 0.13.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 EPS for the quarter, beating the consensus estimate of $6.89 by $2.87. The company had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.87 billion. Allstate had a net margin of 16.57% and a return on equity of 38.37%. The firm's revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $11.17 earnings per share. Equities research analysts anticipate that The Allstate Corporation will post 37.33 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Monday, November 30th will be given a dividend of $1.08 per share. The ex-dividend date is Monday, November 30th. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. Allstate's dividend payout ratio is currently 9.78%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research reports. HSBC downgraded Allstate from a "buy" rating to a "hold" rating and set a $271.00 target price for the company. in a report on Friday, November 6th. Weiss Ratings raised shares of Allstate from a "buy (a)" rating to a "buy (a+)" rating in a research report on Thursday, October 29th. UBS Group raised their price target on shares of Allstate from $275.00 to $283.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Allstate from $236.00 to $252.00 and gave the company an "equal weight" rating in a research note on Friday, November 6th. Finally, Piper Sandler dropped their price objective on shares of Allstate from $300.00 to $294.00 and set an "overweight" rating on the stock in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $273.48.

Allstate Profile

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.

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