The Allstate Corporation $ALL Stock: Pictet Asset Management Holding SA Trims Stake

Pictet Asset Management Holding SA trimmed its position in shares of The Allstate Corporation (NYSE:ALL) by 7.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 289,561 shares of the insurance provider’s stock after selling 22,420 shares during the period. Pictet Asset Management Holding SA’s holdings in Allstate were worth $64,246,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ALL. BlackRock Inc. bought a new position in shares of Allstate during the 2nd quarter worth approximately $5,439,448,000. Bank of America Corp DE boosted its stake in Allstate by 8.1% in the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after acquiring an additional 596,321 shares in the last quarter. GQG Partners LLC acquired a new stake in Allstate in the second quarter valued at approximately $1,245,710,000. Deutsche Bank AG purchased a new position in Allstate in the second quarter worth $1,008,648,000. Finally, Dimensional Fund Advisors LP grew its holdings in Allstate by 5.8% in 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 during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ALL. Atlantic Securities set a $319.00 price objective on Allstate in a report on Wednesday, July 15th. Evercore raised their price objective on Allstate from $240.00 to $262.00 in a research report on Thursday, October 8th. Jefferies Financial Group dropped their target price on Allstate from $310.00 to $292.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and set a $271.00 target price on the stock. in a research report on Friday. Finally, Piper Sandler decreased their price target on Allstate from $300.00 to $294.00 and set an “overweight” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Hold” and a consensus price target of $271.71.

Allstate Stock Down 0.4%

ALL stock opened at $253.80 on Tuesday. The stock has a market capitalization of $64.18 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 0.59 and a beta of 0.13. The Allstate Corporation has a 52 week low of $191.13 and a 52 week high of $281.11. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $245.77 and a 200 day moving average of $230.14.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $2.87. Allstate had a net margin of 16.57% and a return on equity of 38.48%. The business had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.87 billion. During the same quarter in the prior year, the business posted $11.17 EPS. Allstate’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Corporation will post 36.67 earnings per share for the current year.

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.

Founded in 1931 as part of Sears, Roebuck and Co, Allstate became an independent, publicly traded company in 1993.