Seven Eight Capital LP cut its stake in shares of Allstate Corp (NYSE:ALL) by 88.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,718 shares of the insurance provider’s stock after selling 20,700 shares during the quarter. Seven Eight Capital LP’s holdings in Allstate were worth $268,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ALL. Kiley Juergens Wealth Management LLC bought a new position in shares of Allstate during the second quarter valued at approximately $124,000. Summit Trail Advisors LLC grew its holdings in shares of Allstate by 11,436.6% during the first quarter. Summit Trail Advisors LLC now owns 147,438 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 146,160 shares during the last quarter. Denali Advisors LLC bought a new position in shares of Allstate during the third quarter valued at approximately $158,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Allstate by 150.0% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,750 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Allstate by 41.5% during the second quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock valued at $183,000 after purchasing an additional 545 shares during the last quarter. 76.05% of the stock is owned by institutional investors.
Several equities analysts have recently commented on the company. ValuEngine raised Allstate from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. Citigroup decreased their price objective on Allstate from $108.00 to $107.00 and set a “buy” rating for the company in a report on Friday, July 20th. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the stock a “hold” rating in a report on Thursday, October 18th. B. Riley increased their price objective on Allstate from $84.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Finally, Buckingham Research raised Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price objective for the company in a report on Wednesday, July 18th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Allstate currently has an average rating of “Hold” and an average target price of $104.62.
Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period in the prior year, the company posted $1.38 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Allstate Corp will post 9.46 EPS for the current fiscal year.
In other Allstate news, EVP Susan L. Lees sold 22,189 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total value of $2,202,036.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harriet K. Harty sold 10,515 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now 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 sold a total of 54,432 shares of company stock valued at $5,386,208 over the last three months. Corporate insiders own 1.40% of the company’s stock.
Allstate Company Profile
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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