Glenview Trust Co Trims Holdings in Allstate Corp (NYSE:ALL)
Glenview Trust Co decreased its stake in shares of Allstate Corp (NYSE:ALL) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,445 shares of the insurance provider’s stock after selling 628 shares during the quarter. Glenview Trust Co’s holdings in Allstate were worth $12,307,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Allstate by 0.4% during the 2nd quarter. BlackRock Inc. now owns 26,305,632 shares of the insurance provider’s stock worth $2,675,022,000 after buying an additional 109,997 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Allstate by 9.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,698 shares of the insurance provider’s stock worth $3,988,000 after buying an additional 3,111 shares during the last quarter. Ingalls & Snyder LLC purchased a new stake in Allstate in the 3rd quarter valued at $225,000. CIBC Private Wealth Group LLC grew its holdings in Allstate by 14.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 53,880 shares of the insurance provider’s stock valued at $5,856,000 after buying an additional 6,823 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Allstate by 9.0% in the 3rd quarter. Signaturefd LLC now owns 2,856 shares of the insurance provider’s stock valued at $310,000 after buying an additional 237 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on ALL shares. Evercore ISI reiterated a “hold” rating and set a $117.00 price target on shares of Allstate in a report on Sunday, December 22nd. Morgan Stanley upped their price objective on shares of Allstate from $114.00 to $124.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Wells Fargo & Co raised their price objective on shares of Allstate from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Cfra lifted their target price on shares of Allstate from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, MKM Partners boosted their target price on shares of Allstate to and gave the company a “buy” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Allstate currently has a consensus rating of “Hold” and an average target price of $120.00.
Allstate (NYSE:ALL) last released its earnings results on Tuesday, February 4th. The insurance provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.01. The company had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.27 billion. Allstate had a return on equity of 16.05% and a net margin of 10.85%. Allstate’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. As a group, sell-side analysts predict that Allstate Corp will post 10.29 EPS for the current year.
In other Allstate news, insider Croker Trevor acquired 44,975 shares of the stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $34.22 per share, with a total value of $1,539,044.50. Company insiders own 1.60% of the company’s stock.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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