The Allstate Corporation $ALL Stock: Opal Wealth Advisors LLC Decreases Position

Opal Wealth Advisors LLC lowered its holdings in The Allstate Corporation (NYSE:ALL) by 74.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 971 shares of the insurance provider’s stock after selling 2,852 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Allstate were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Gables Capital Management Inc. acquired a new position in shares of Allstate during the 2nd quarter valued at $26,000. Allied Private Wealth LLC purchased a new stake in Allstate during the 2nd quarter worth $29,000. Kelleher Financial Advisors purchased a new stake in Allstate during the 2nd quarter worth $28,000. MV Capital Management Inc. purchased a new stake in Allstate during the 4th quarter worth $25,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in Allstate in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 32,996 shares of Allstate 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 sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

Allstate Price Performance

Shares of ALL stock opened at $247.27 on Friday. The company has a market capitalization of $62.52 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 0.55 and a beta of 0.13. The firm has a fifty day simple moving average of $246.77 and a 200-day simple moving average of $235.04. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the business earned $5.94 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Equities research analysts anticipate that The Allstate Corporation will post 36.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALL has been the topic of several research reports. HSBC raised Allstate from a “hold” rating to a “buy” rating and set a $266.00 price objective on the stock in a research report on Wednesday, October 7th. Argus set a $238.00 price objective on Allstate in a research note on Friday, August 28th. Weiss Ratings raised Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research report on Wednesday. Mizuho decreased their target price on Allstate from $300.00 to $295.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Finally, UBS Group increased their target price on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Allstate currently has a consensus rating of “Hold” and an average price target of $270.19.

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.