Allstate Corp (ALL) Position Raised by Mckinley Capital Management LLC Delaware
Mckinley Capital Management LLC Delaware boosted its position in Allstate Corp (NYSE:ALL) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 149,676 shares of the insurance provider’s stock after purchasing an additional 8,870 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Allstate were worth $14,773,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Northern Trust Corp lifted its stake in Allstate by 0.4% in the 2nd quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock valued at $623,554,000 after purchasing an additional 24,814 shares during the last quarter. Morgan Stanley lifted its stake in Allstate by 11.3% in the 2nd quarter. Morgan Stanley now owns 972,750 shares of the insurance provider’s stock valued at $88,783,000 after purchasing an additional 99,122 shares during the last quarter. Millennium Management LLC lifted its stake in Allstate by 101.9% in the 2nd quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock valued at $145,082,000 after purchasing an additional 802,167 shares during the last quarter. Reliance Trust Co. of Delaware lifted its stake in Allstate by 8.6% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock valued at $664,000 after purchasing an additional 575 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Allstate by 18.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 572,645 shares of the insurance provider’s stock valued at $52,283,000 after purchasing an additional 91,117 shares during the last quarter. Institutional investors and hedge funds own 76.79% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group set a $112.00 target price on shares of Allstate and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley lowered their price target on shares of Allstate from $105.00 to $102.00 and set a “hold” rating on the stock in a report on Wednesday. Zacks Investment Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 13th. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. Finally, Citigroup set a $115.00 price target on shares of Allstate and gave the company a “buy” rating in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Allstate has a consensus rating of “Hold” and an average price target of $103.67.
Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.28). Allstate had a return on equity of 15.48% and a net margin of 9.38%. The business had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Allstate Corp will post 9.24 EPS for the current year.
In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the sale, the executive vice president now owns 14,606 shares in the company, valued at $1,444,095.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jesse E. Merten sold 696 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total transaction of $64,115.52. Following the completion of the sale, the executive vice president now owns 2,102 shares in the company, valued at approximately $193,636.24. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
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Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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