The Allstate Corporation $ALL Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of The Allstate Corporation (NYSE:ALL) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 313,681 shares of the insurance provider’s stock after acquiring an additional 5,804 shares during the quarter. Principal Financial Group Inc.’s holdings in Allstate were worth $65,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Barnes Dennig Private Wealth Management LLC grew its position in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Dorato Capital Management purchased a new position in Allstate during the fourth quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new position in Allstate during the third quarter worth $31,000. Princeton Global Asset Management LLC boosted its stake in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after buying an additional 76 shares during the last quarter. Finally, South Plains Financial Inc. grew its holdings in Allstate by 41.5% in the 3rd 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 in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

NYSE:ALL opened at $213.74 on Friday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $222.23. 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 50 day moving average price of $210.90 and a 200 day moving average price of $206.26. The stock has a market capitalization of $55.02 billion, a P/E ratio of 4.72, a PEG ratio of 0.41 and a beta of 0.21.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the firm earned $3.53 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that The Allstate Corporation will post 28.26 EPS for the current year.

Insider Transactions at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup lifted their target price 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. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Finally, Mizuho dropped their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. 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 assigned a Sell rating to the company. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $241.67.

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.