Leo Wealth LLC Acquires 3,559 Shares of The Allstate Corporation $ALL

Leo Wealth LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,559 shares of the insurance provider’s stock, valued at approximately $790,000.

Several other large investors also recently modified their holdings of the stock. Apollon Wealth Management LLC grew its stake in Allstate by 46.4% during the third quarter. Apollon Wealth Management LLC now owns 12,817 shares of the insurance provider’s stock worth $2,844,000 after buying an additional 4,065 shares in the last quarter. Live Oak Investment Partners increased its holdings in Allstate by 0.6% in the 3rd quarter. Live Oak Investment Partners now owns 11,767 shares of the insurance provider’s stock valued at $2,611,000 after buying an additional 66 shares during the period. Paladin Wealth LLC raised its position in shares of 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 position in shares of Allstate by 39.8% in the 3rd quarter. Orange Investment Advisors Inc. now owns 17,532 shares of the insurance provider’s stock valued at $3,890,000 after buying an additional 4,991 shares in the last quarter. Finally, EULAV Asset Management lifted its holdings in shares of Allstate by 74.2% during the 3rd 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 during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALL has been the topic of several analyst reports. UBS Group increased their price target on shares of Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Barclays cut their target price on Allstate from $226.00 to $221.00 and set an “underweight” rating for the company in a research note on Wednesday, October 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a report on Monday, September 28th. Finally, Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Hold” and an average target price of $270.19.

Insider Activity at Allstate

In other Allstate news, insider John 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 value of $8,886,812.68. Following the sale, the insider owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction 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 position. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Allstate Stock Up 1.1%

ALL stock opened at $255.89 on Tuesday. The firm has a 50-day moving average price of $245.82 and a 200-day moving average price of $226.99. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. 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 stock has a market capitalization of $64.70 billion, a P/E ratio of 5.11, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13.

Allstate (NYSE:ALL) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $5.94 EPS. As a group, equities research analysts anticipate that The Allstate Corporation will post 36.21 EPS for the current fiscal year.

Allstate Profile

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.