Pullen Investment Management LLC Sells 5,502 Shares of The Allstate Corporation $ALL

Pullen Investment Management LLC decreased its holdings in The Allstate Corporation (NYSE:ALL) by 51.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,104 shares of the insurance provider’s stock after selling 5,502 shares during the period. Pullen Investment Management LLC’s holdings in Allstate were worth $1,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of ALL. Paladin Wealth LLC grew its stake in Allstate by 64.5% in the 3rd quarter. Paladin Wealth LLC now owns 1,425 shares of the insurance provider’s stock valued at $316,000 after buying an additional 559 shares in the last quarter. Orange Investment Advisors Inc. raised its holdings in Allstate by 39.8% during the 3rd quarter. Orange Investment Advisors Inc. now owns 17,532 shares of the insurance provider’s stock valued at $3,890,000 after acquiring an additional 4,991 shares during the period. EULAV Asset Management lifted its position in shares of Allstate by 74.2% during the third quarter. EULAV Asset Management now owns 35,015 shares of the insurance provider’s stock worth $7,768,000 after acquiring an additional 14,915 shares in the last quarter. Norris Perne & French LLP MI purchased a new stake in shares of Allstate during the third quarter worth $495,000. Finally, BG Investment Services LLC bought a new position in shares of Allstate in the third quarter worth $6,501,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate News Summary

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate prevailed in a Texas coverage dispute involving a vacant property. The ruling supports the insurer’s ability to enforce policy vacancy provisions, potentially limiting claims costs and reinforcing underwriting discipline. Vacant clause can void cover: US court backs Allstate in Texas case
• Positive Sentiment: Allstate retained $9,000 in a subrogation-related dispute after a court placed the premature filing cost on the opposing liability carrier. The financial impact is small, but the decision may support Allstate’s claims-handling position. Allstate keeps $9,000 as premature subrogation cost falls on liability carrier
• Positive Sentiment: Bank of America raised its price target on Allstate to $340 from $336, signaling continued confidence in the insurer’s earnings outlook and valuation. BofA raises target from $336 to $340
• Positive Sentiment: A valuation-focused analysis said Allstate still appears inexpensive despite a 131% advance, potentially attracting investors who expect further benefits from strong insurance pricing and improved profitability. Allstate stock still looks cheap after its 131% run
• Neutral Sentiment: Allstate shares gained 3.76% in the referenced session, although KBW maintained its Sell rating, highlighting a disconnect between short-term trading momentum and analyst conviction. KBW keeps Sell rating
• Neutral Sentiment: UBS reiterated its Hold rating, offering no new catalyst but indicating the firm sees limited justification for changing its current view. UBS keeps Hold rating
• Negative Sentiment: Analysts expect Allstate’s third-quarter earnings per share to decline by double digits year over year, creating concern ahead of the company’s November earnings release. What to expect from Allstate’s next quarterly earnings report
• Negative Sentiment: KBW’s continued Sell rating remains a notable overhang, suggesting the firm believes Allstate’s strong rally has outpaced its fundamental value. KBW keeps Sell rating
• Negative Sentiment: The price target for Allstate’s preferred stock was reduced 12.29% to $19.21, signaling weaker expectations for that security, although it does not directly change the valuation of the common shares. Allstate preferred stock price target decreased

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and set a $266.00 price target for the company in a research report on Wednesday, October 7th. Cantor Fitzgerald increased their price objective on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Raymond James Financial restated a “strong-buy” rating and issued a $315.00 target price (up from $300.00) on shares of Allstate in a research note on Tuesday, August 11th. Jefferies Financial Group reduced their target price on Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Finally, Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research report on Wednesday, October 14th. Two equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Hold” and a consensus price target of $270.19.

Insider Transactions at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Allstate Trading Up 0.0%

Allstate stock opened at $253.24 on Monday. The stock has a market cap of $64.03 billion, a P/E ratio of 5.06, a PEG ratio of 0.56 and a beta of 0.13. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The firm’s fifty day moving average price is $245.78 and its 200-day moving average price is $236.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $5.94 earnings per share. Equities research analysts forecast that The Allstate Corporation will post 36.21 earnings per share for the current fiscal year.

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.