Bailard Inc. Reduces Stock Holdings in The Allstate Corporation $ALL

Bailard Inc. reduced its holdings in The Allstate Corporation (NYSE:ALL) by 13.5% during the 4th quarter, Holdings Channel reports. The fund owned 23,702 shares of the insurance provider’s stock after selling 3,707 shares during the period. Bailard Inc.’s holdings in Allstate were worth $4,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Truist Financial Corp raised its position in Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after acquiring an additional 5,542 shares during the period. Jones Financial Companies Lllp raised its position in Allstate by 6.9% during the third quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock worth $40,489,000 after acquiring an additional 12,225 shares during the period. Coastal Bridge Advisors LLC raised its position in Allstate by 530.6% during the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock worth $3,901,000 after acquiring an additional 15,292 shares during the period. Caprock Group LLC acquired a new position in Allstate during the third quarter worth $3,598,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Allstate by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 667,154 shares of the insurance provider’s stock worth $143,205,000 after acquiring an additional 8,735 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Allstate stock opened at $215.51 on Wednesday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $222.23. The stock has a market cap of $55.48 billion, a P/E ratio of 4.75, a PEG ratio of 0.39 and a beta of 0.21. The company has a 50-day moving average price of $211.02 and a 200 day moving average price of $206.69. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the business earned $3.53 earnings per share. Allstate’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that The Allstate Corporation will post 28.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALL. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Mizuho reduced their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $241.67.

Insider Transactions at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.55% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.