The Allstate Co. (NYSE:ALL) Shares Sold by Fortem Financial Group LLC
Fortem Financial Group LLC decreased its holdings in The Allstate Co. (NYSE:ALL) by 72.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,112 shares of the insurance provider’s stock after selling 8,070 shares during the period. Fortem Financial Group LLC’s holdings in The Allstate were worth $293,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ALL. Public Employees Retirement Association of Colorado grew its stake in shares of The Allstate by 4.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 61,625 shares of the insurance provider’s stock valued at $5,653,000 after buying an additional 2,875 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of The Allstate by 14,450.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,455 shares of the insurance provider’s stock valued at $133,000 after buying an additional 1,445 shares during the period. HBK Sorce Advisory LLC grew its stake in shares of The Allstate by 7.7% in the 1st quarter. HBK Sorce Advisory LLC now owns 2,260 shares of the insurance provider’s stock valued at $207,000 after buying an additional 161 shares during the period. Enterprise Financial Services Corp grew its stake in shares of The Allstate by 62.9% in the 1st quarter. Enterprise Financial Services Corp now owns 642 shares of the insurance provider’s stock valued at $59,000 after buying an additional 248 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of The Allstate by 13.3% in the 1st quarter. Schroder Investment Management Group now owns 27,885 shares of the insurance provider’s stock valued at $2,608,000 after buying an additional 3,276 shares during the period. Institutional investors own 76.26% of the company’s stock.
Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of The Allstate from a “buy” rating to a “hold” rating and set a $96.00 price target for the company. in a research note on Monday, September 21st. ValuEngine raised shares of The Allstate from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Credit Suisse Group reaffirmed a “hold” rating on shares of The Allstate in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised shares of The Allstate from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $107.00 to $108.00 in a research report on Tuesday, September 22nd. Finally, Morgan Stanley lowered their price objective on shares of The Allstate from $109.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The Allstate has a consensus rating of “Buy” and an average price target of $113.08.
The Allstate (NYSE:ALL) last released its earnings results on Tuesday, August 4th. The insurance provider reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $1.05. The company had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.37 billion. The Allstate had a net margin of 10.28% and a return on equity of 17.25%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.18 EPS. On average, equities research analysts anticipate that The Allstate Co. will post 10.91 earnings per share for the current fiscal year.
The Allstate Profile
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 and stand-alone scheduled personal property; liability insurance products; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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