Parallel Advisors LLC grew its holdings in Allstate Corp (NYSE:ALL) by 46.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,361 shares of the insurance provider’s stock after buying an additional 2,646 shares during the quarter. Parallel Advisors LLC’s holdings in Allstate were worth $909,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ALL. BlackRock Inc. boosted its holdings in Allstate by 0.4% in the second quarter. BlackRock Inc. now owns 26,305,632 shares of the insurance provider’s stock valued at $2,675,022,000 after acquiring an additional 109,997 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Allstate by 0.9% during the second quarter. Vanguard Group Inc. now owns 24,689,491 shares of the insurance provider’s stock worth $2,510,675,000 after buying an additional 228,584 shares during the period. AQR Capital Management LLC boosted its position in shares of Allstate by 2.9% during the second quarter. AQR Capital Management LLC now owns 6,372,559 shares of the insurance provider’s stock worth $643,628,000 after buying an additional 178,988 shares during the period. Invesco Ltd. boosted its position in Allstate by 12.6% during the second quarter. Invesco Ltd. now owns 4,342,920 shares of the insurance provider’s stock valued at $441,631,000 after purchasing an additional 486,897 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Allstate by 3.7% during the third quarter. California Public Employees Retirement System now owns 2,877,923 shares of the insurance provider’s stock valued at $312,773,000 after purchasing an additional 103,623 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.
ALL has been the topic of several research analyst reports. ValuEngine lowered Allstate from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Credit Suisse Group lowered Allstate from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $100.00 to $94.00 in a research note on Thursday, July 11th. Wells Fargo & Co upped their price objective on Allstate from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Buckingham Research upped their price objective on Allstate from $100.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley upped their price objective on Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $110.17.
In other Allstate news, EVP Susan L. Lees sold 27,650 shares of Allstate stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the transaction, the executive vice president now directly owns 53,165 shares of the company’s stock, valued at approximately $5,757,769.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.
Shares of NYSE ALL traded up $0.52 during trading hours on Friday, reaching $108.24. 499,018 shares of the stock were exchanged, compared to its average volume of 1,505,266. The firm has a market capitalization of $34.29 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.27 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.30 and a current ratio of 0.30. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $109.55. The stock’s fifty day simple moving average is $107.48 and its 200 day simple moving average is $102.71.
Allstate (NYSE:ALL) last issued its earnings results on Tuesday, October 29th. The insurance provider reported $2.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.52 by $0.32. Allstate had a return on equity of 13.83% and a net margin of 6.57%. The firm had revenue of $10.87 billion for the quarter, compared to the consensus estimate of $9.07 billion. During the same quarter last year, the business posted $1.93 EPS. Research analysts predict that Allstate Corp will post 9.97 EPS for the current fiscal year.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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