Trek Financial LLC Makes New Investment in The Allstate Corporation $ALL

Trek Financial LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,646 shares of the insurance provider’s stock, valued at approximately $1,031,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Gables Capital Management Inc. acquired a new stake in shares of Allstate in the 2nd quarter worth $26,000. Allied Private Wealth LLC acquired a new position in Allstate during the 2nd quarter valued at about $29,000. Kelleher Financial Advisors acquired a new position in Allstate during the 2nd quarter valued at about $28,000. Transamerica Financial Advisors LLC purchased a new stake in Allstate in the second quarter valued at about $32,000. Finally, Highland Investment Advisors LLC purchased a new stake in Allstate in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In other Allstate 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 transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Dugenske sold 32,996 shares of Allstate 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 sale, the insider 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 disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by corporate insiders.

Allstate Stock Up 1.7%

Shares of ALL stock opened at $264.32 on Tuesday. The stock’s 50-day simple moving average is $245.60 and its 200-day simple moving average is $228.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $66.84 billion, a PE ratio of 5.28, a P/E/G ratio of 0.55 and a beta of 0.13. The Allstate Corporation has a fifty-two week low of $188.15 and a fifty-two week high of $277.22.

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

Analyst Ratings Changes

ALL has been the subject of several recent analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $315.00 price target (up from $300.00) on shares of Allstate in a report on Tuesday, August 11th. BMO Capital Markets upped their price objective on shares of Allstate from $250.00 to $284.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Weiss Ratings raised shares of Allstate from a “buy (a)” rating to a “buy (a+)” rating in a research report on Thursday. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 25th. Finally, Roth Capital set a $300.00 target price on shares of Allstate in a research note on Thursday, August 6th. Two equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $270.19.

Allstate Company 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.