The Allstate Corporation $ALL Shares Newly Purchased by Vise Technologies Inc.

Vise Technologies Inc. purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 35,491 shares of the insurance provider’s stock, valued at approximately $7,874,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. BlackRock Inc. purchased a new stake in Allstate in the 2nd quarter worth approximately $5,439,448,000. Bank of America Corp DE raised its holdings in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after acquiring an additional 596,321 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Allstate during the 2nd quarter worth $1,245,710,000. Deutsche Bank AG purchased a new position in shares of Allstate during the 2nd quarter worth $1,008,648,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Allstate by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after purchasing an additional 154,259 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 1.7%

Shares of NYSE ALL opened at $264.32 on Tuesday. The Allstate Corporation has a 52-week low of $188.15 and a 52-week high of $277.22. The firm has a fifty day moving average of $245.60 and a 200-day moving average of $228.45. The stock has a market capitalization of $66.84 billion, a PE ratio of 5.28, a P/E/G ratio of 0.55 and a beta of 0.13. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the company posted $5.94 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that The Allstate Corporation will post 36.21 EPS for the current year.

Insider Activity

In other news, insider John Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ALL shares. BMO Capital Markets lifted their price objective on Allstate from $250.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Evercore increased their target price on Allstate from $240.00 to $262.00 in a research report on Thursday, October 8th. Keefe, Bruyette & Woods decreased their price target on Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a research note on Monday, October 12th. UBS Group lifted their price target on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Jefferies Financial Group dropped their price objective on shares of Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Allstate has a consensus rating of “Hold” and an average target price of $270.19.

About Allstate

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.