CCM Investment Advisers LLC Lowers Holdings in Allstate Corp (ALL)

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CCM Investment Advisers LLC trimmed its position in Allstate Corp (NYSE:ALL) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,808 shares of the insurance provider’s stock after selling 2,515 shares during the quarter. Allstate accounts for 1.9% of CCM Investment Advisers LLC’s holdings, making the stock its 23rd largest holding. CCM Investment Advisers LLC’s holdings in Allstate were worth $10,245,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Valeo Financial Advisors LLC lifted its holdings in shares of Allstate by 41.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock worth $183,000 after buying an additional 545 shares during the period. Townsend & Associates Inc lifted its holdings in shares of Allstate by 8.5% in the 2nd quarter. Townsend & Associates Inc now owns 7,144 shares of the insurance provider’s stock worth $652,000 after buying an additional 558 shares during the period. Catawba Capital Management VA lifted its holdings in shares of Allstate by 1.5% in the 2nd quarter. Catawba Capital Management VA now owns 39,271 shares of the insurance provider’s stock worth $3,584,000 after buying an additional 566 shares during the period. Atria Investments LLC lifted its holdings in shares of Allstate by 24.3% in the 3rd quarter. Atria Investments LLC now owns 2,938 shares of the insurance provider’s stock worth $290,000 after buying an additional 574 shares during the period. Finally, Reliance Trust Co. of Delaware lifted its holdings in shares of Allstate by 8.6% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock worth $664,000 after buying an additional 575 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.

In related news, EVP Harriet K. Harty sold 10,515 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the completion of the sale, the executive vice president now directly owns 14,606 shares in the company, valued at approximately $1,444,095.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Several equities research analysts have weighed in on ALL shares. B. Riley upped their target price on Allstate from $84.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Buckingham Research upgraded Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price objective for the company in a research note on Wednesday, July 18th. Citigroup decreased their price objective on Allstate from $108.00 to $107.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Credit Suisse Group initiated coverage on Allstate in a research note on Tuesday, August 7th. They set an “outperform” rating and a $114.00 price objective for the company. Finally, Wells Fargo & Co restated a “hold” rating on shares of Allstate in a research note on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Allstate currently has a consensus rating of “Hold” and an average price target of $103.92.

Shares of NYSE ALL opened at $91.03 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market cap of $30.84 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.15 and a beta of 0.87. Allstate Corp has a 1-year low of $88.29 and a 1-year high of $105.36.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.28). The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Allstate had a return on equity of 15.48% and a net margin of 9.38%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. As a group, equities analysts forecast that Allstate Corp will post 9.25 EPS for the current fiscal year.

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Allstate 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.

Read More: What Is An Exchange-Traded Fund (ETF)?

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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