Swiss Life Asset Management Ltd Raises Stock Holdings in The Allstate Corporation $ALL

Swiss Life Asset Management Ltd boosted its holdings in The Allstate Corporation (NYSE:ALL) by 20.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 92,546 shares of the insurance provider’s stock after acquiring an additional 15,673 shares during the period. Swiss Life Asset Management Ltd’s holdings in Allstate were worth $19,263,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Kepler Cheuvreux Suisse SA raised its position in Allstate by 54.9% in the 4th quarter. Kepler Cheuvreux Suisse SA now owns 12,917 shares of the insurance provider’s stock worth $2,689,000 after buying an additional 4,576 shares during the last quarter. Colonial River Investments LLC raised its position in Allstate by 5.5% in the 4th quarter. Colonial River Investments LLC now owns 2,683 shares of the insurance provider’s stock worth $558,000 after buying an additional 140 shares during the last quarter. Drive Wealth Management LLC purchased a new position in Allstate in the 4th quarter worth about $207,000. D Orazio & Associates Inc. raised its position in Allstate by 8.5% in the 4th quarter. D Orazio & Associates Inc. now owns 1,125 shares of the insurance provider’s stock worth $234,000 after buying an additional 88 shares during the last quarter. Finally, Advisor OS LLC raised its position in Allstate by 1.8% in the 4th quarter. Advisor OS LLC now owns 3,803 shares of the insurance provider’s stock worth $792,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.55% of the stock is owned by insiders.

Allstate Trading Up 0.3%

ALL stock opened at $213.81 on Tuesday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $222.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $55.04 billion, a price-to-earnings ratio of 4.72, a PEG ratio of 0.39 and a beta of 0.21. The business has a 50 day simple moving average of $210.99 and a two-hundred day simple moving average of $206.54.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALL. Mizuho decreased their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. The Goldman Sachs Group reissued a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Piper Sandler boosted their target price on Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods boosted their target price on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate 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.