Donaldson Capital Management LLC Lowers Stake in The Allstate Co. (NYSE:ALL)

Donaldson Capital Management LLC cut its position in shares of The Allstate Co. (NYSE:ALL) by 19.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 312,837 shares of the insurance provider’s stock after selling 76,349 shares during the quarter. Allstate accounts for approximately 2.3% of Donaldson Capital Management LLC’s holdings, making the stock its 15th largest position. Donaldson Capital Management LLC’s holdings in Allstate were worth $59,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. Norden Group LLC acquired a new stake in shares of Allstate in the first quarter worth approximately $641,000. BNP Paribas Financial Markets boosted its position in shares of Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after acquiring an additional 78,316 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Allstate by 7.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,750 shares of the insurance provider’s stock worth $1,168,000 after acquiring an additional 441 shares during the last quarter. Haverford Trust Co acquired a new stake in shares of Allstate in the first quarter worth approximately $189,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Allstate by 33.8% in the first quarter. Daiwa Securities Group Inc. now owns 31,537 shares of the insurance provider’s stock worth $5,456,000 after acquiring an additional 7,961 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 1.3 %

NYSE ALL opened at $184.15 on Monday. The company’s fifty day simple moving average is $188.87 and its 200-day simple moving average is $175.32. The Allstate Co. has a 52 week low of $127.93 and a 52 week high of $198.79. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The stock has a market cap of $48.76 billion, a P/E ratio of 11.93, a PEG ratio of 1.88 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Equities research analysts predict that The Allstate Co. will post 14.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Morgan Stanley raised their target price on shares of Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Raymond James lifted their price target on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. Piper Sandler lifted their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Company reduced their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $207.19.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.