Buckingham Asset Management LLC Grows Stock Holdings in Allstate Corp (NYSE:ALL)
Buckingham Asset Management LLC grew its position in shares of Allstate Corp (NYSE:ALL) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,552 shares of the insurance provider’s stock after purchasing an additional 148 shares during the period. Buckingham Asset Management LLC’s holdings in Allstate were worth $693,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. Wealth Quarterback LLC purchased a new position in shares of Allstate during the 4th quarter valued at $2,000,210,000. Norges Bank purchased a new position in shares of Allstate during the 4th quarter valued at $360,180,000. Senator Investment Group LP purchased a new position in Allstate in the fourth quarter worth $140,562,000. Macquarie Group Ltd. grew its position in Allstate by 14.4% in the fourth quarter. Macquarie Group Ltd. now owns 8,768,134 shares of the insurance provider’s stock worth $985,977,000 after acquiring an additional 1,105,269 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Allstate by 259.1% in the fourth quarter. First Trust Advisors LP now owns 657,317 shares of the insurance provider’s stock worth $73,915,000 after acquiring an additional 474,294 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.
Several brokerages recently issued reports on ALL. Citigroup cut their target price on shares of Allstate from $135.00 to $119.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Zacks Investment Research raised shares of Allstate from a “sell” rating to a “hold” rating and set a $124.00 price target for the company in a research note on Monday, January 20th. Raymond James boosted their price target on shares of Allstate from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 21st. Morgan Stanley boosted their price target on shares of Allstate from $111.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Piper Sandler boosted their price target on shares of Allstate from $90.00 to $101.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Allstate currently has a consensus rating of “Hold” and a consensus price target of $115.31.
Shares of NYSE ALL opened at $95.38 on Friday. Allstate Corp has a 1 year low of $64.13 and a 1 year high of $125.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50-day moving average is $97.04 and its 200 day moving average is $107.25. The stock has a market capitalization of $31.66 billion, a P/E ratio of 7.99, a P/E/G ratio of 1.22 and a beta of 0.91.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.62. The business had revenue of $9.24 billion for the quarter, compared to analysts’ expectations of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.30 earnings per share. Research analysts anticipate that Allstate Corp will post 10.97 earnings per share for the current year.
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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