The Allstate Corporation $ALL Stock: Patton Albertson Miller Group LLC Raises Position

Patton Albertson Miller Group LLC raised its position in The Allstate Corporation (NYSE:ALL) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,049 shares of the insurance provider’s stock after acquiring an additional 2,792 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Allstate were worth $6,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Allstate in the 2nd quarter valued at $5,439,448,000. Bank of America Corp DE lifted its position in shares of Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Allstate during the second quarter worth $1,245,710,000. Deutsche Bank AG acquired a new position in shares of Allstate during the second quarter worth $1,008,648,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Allstate by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after purchasing an additional 154,259 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE ALL opened at $255.89 on Tuesday. The company has a fifty day moving average of $245.82 and a two-hundred day moving average of $226.99. The company has a market capitalization of $64.70 billion, a PE ratio of 5.11, a P/E/G ratio of 0.56 and a beta of 0.13. The Allstate Corporation has a 1 year low of $188.08 and a 1 year 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.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same quarter in the previous year, the firm earned $5.94 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts expect that The Allstate Corporation will post 36.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALL. Argus set a $238.00 price target on Allstate in a research note on Friday, August 28th. JPMorgan Chase & Co. upped their price objective on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a report on Monday, September 28th. Cantor Fitzgerald raised their target price on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, UBS Group boosted their target price on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $270.19.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction on 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 in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction on 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 sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by insiders.

About Allstate

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.