Frank Rimerman Advisors LLC Cuts Stake in The Allstate Corporation $ALL

Frank Rimerman Advisors LLC reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,993 shares of the insurance provider’s stock after selling 264 shares during the period. Frank Rimerman Advisors LLC’s holdings in Allstate were worth $603,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the last quarter. Boston Partners lifted its stake in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock worth $512,627,000 after purchasing an additional 2,134,893 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Allstate by 27.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock valued at $482,073,000 after buying an additional 497,982 shares during the period. Strs Ohio purchased a new stake in Allstate during the first quarter valued at about $84,408,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Allstate during the second quarter valued at about $68,590,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALL shares. UBS Group boosted their target price on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Barclays reiterated an “underweight” rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 target price (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. Finally, Evercore ISI set a $233.00 price target on shares of Allstate and gave the company an “in-line” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.64.

Allstate Price Performance

Shares of ALL stock opened at $209.89 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70. The firm has a market cap of $54.92 billion, a P/E ratio of 9.87, a P/E/G ratio of 0.69 and a beta of 0.35. The business’s 50 day moving average price is $202.92 and its 200-day moving average price is $201.91.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.91 earnings per share. On average, equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 400 shares of Allstate stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $215.22, for a total transaction of $86,088.00. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,661,032.12. The trade was a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.