FCA Corp TX decreased its holdings in Allstate Corp (NYSE:ALL) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,334 shares of the insurance provider’s stock after selling 125 shares during the quarter. FCA Corp TX’s holdings in Allstate were worth $2,427,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Manchester Financial Inc. acquired a new position in shares of Allstate in the 2nd quarter valued at approximately $25,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Allstate in the 2nd quarter valued at approximately $27,000. Candriam Luxembourg S.C.A. raised its position in shares of Allstate by 19.1% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 231,261 shares of the insurance provider’s stock valued at $27,000 after buying an additional 37,143 shares in the last quarter. McIlrath & Eck LLC acquired a new position in shares of Allstate in the 3rd quarter valued at approximately $27,000. Finally, Mechanics Bank Trust Department acquired a new position in shares of Allstate in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 78.56% of the company’s stock.
In other Allstate news, EVP Susan L. Lees sold 27,650 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the sale, the executive vice president now directly owns 53,165 shares of the company’s stock, valued at approximately $5,757,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.32. The company had revenue of $10.87 billion for the quarter, compared to analyst estimates of $9.07 billion. Allstate had a net margin of 6.57% and a return on equity of 13.83%. During the same period in the previous year, the firm posted $1.93 EPS. Equities research analysts forecast that Allstate Corp will post 9.97 earnings per share for the current year.
Several equities analysts have recently commented on ALL shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $118.00 target price on shares of Allstate in a research report on Tuesday. Evercore ISI started coverage on shares of Allstate in a report on Thursday, October 17th. They set an “in-line” rating and a $117.00 price target on the stock. UBS Group lifted their price target on shares of Allstate from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley lifted their price target on shares of Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, ValuEngine lowered shares of Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $111.15.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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