Cullen Frost Bankers Inc. cut its stake in shares of Allstate Corp (NYSE:ALL) by 15.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,766 shares of the insurance provider’s stock after selling 886 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Allstate were worth $470,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp raised its holdings in shares of Allstate by 0.4% in the second quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock valued at $623,554,000 after buying an additional 24,814 shares during the last quarter. Morgan Stanley raised its holdings in shares of Allstate by 11.3% in the second quarter. Morgan Stanley now owns 972,750 shares of the insurance provider’s stock valued at $88,783,000 after buying an additional 99,122 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Allstate by 101.9% in the second quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock valued at $145,082,000 after buying an additional 802,167 shares during the last quarter. Reliance Trust Co. of Delaware raised its holdings in shares of Allstate by 8.6% in the second quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock valued at $664,000 after buying an additional 575 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of Allstate by 21.9% in the second quarter. Ontario Teachers Pension Plan Board now owns 111,767 shares of the insurance provider’s stock valued at $10,201,000 after buying an additional 20,058 shares during the last quarter. 76.05% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on ALL shares. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a report on Tuesday, September 18th. ValuEngine raised Allstate from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. Citigroup set a $115.00 price target on Allstate and gave the company a “buy” rating in a report on Friday, October 12th. Buckingham Research raised Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target for the company in a report on Wednesday, July 18th. Finally, B. Riley lifted their price target on Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $104.62.
In other Allstate news, EVP Susan L. Lees sold 22,189 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total transaction of $2,202,036.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harriet K. Harty sold 10,515 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $98.87, for a total value of $1,039,618.05. Following the sale, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The disclosure for this sale can be found here. Insiders have sold a total of 54,432 shares of company stock valued at $5,386,208 over the last three months. Company insiders own 1.40% of the company’s stock.
Shares of NYSE:ALL opened at $89.97 on Friday. The stock has a market cap of $33.06 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.21 and a beta of 0.91. Allstate Corp has a 1-year low of $88.29 and a 1-year high of $105.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.28). The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.51 billion. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 earnings per share. As a group, sell-side analysts expect that Allstate Corp will post 9.46 EPS for the current year.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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