Axxcess Wealth Management LLC Purchases 56,307 Shares of The Allstate Corporation $ALL

Axxcess Wealth Management LLC grew its holdings in shares of The Allstate Corporation (NYSE:ALL) by 1,343.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 60,498 shares of the insurance provider’s stock after acquiring an additional 56,307 shares during the period. Axxcess Wealth Management LLC’s holdings in Allstate were worth $12,593,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. South Plains Financial Inc. grew its holdings in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after buying an additional 49 shares during the last quarter. Humankind Investments LLC raised its position in Allstate by 4.5% in the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after acquiring an additional 51 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after purchasing an additional 52 shares during the period. Howard Capital Management Inc. raised its position in shares of Allstate by 3.2% in the third quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock valued at $373,000 after purchasing an additional 54 shares during the period. Finally, L2 Asset Management LLC raised its position in shares of Allstate by 4.7% in the third quarter. L2 Asset Management LLC now owns 1,223 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 55 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Citigroup boosted their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Finally, Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.67.

Allstate Stock Performance

Shares of ALL stock opened at $216.64 on Friday. The company’s 50-day moving average is $212.27 and its 200 day moving average is $208.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $55.77 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 0.39 and a beta of 0.21. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.53 EPS. Sell-side analysts expect that The Allstate Corporation will post 29.22 EPS for the current fiscal year.

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the firm’s 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.55% of the stock is currently owned by insiders.

Allstate Company Profile

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.