LSV Asset Management Buys 532,770 Shares of The Allstate Corporation $ALL

LSV Asset Management raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 542.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 631,005 shares of the insurance provider’s stock after acquiring an additional 532,770 shares during the period. LSV Asset Management’s holdings in Allstate were worth $131,344,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. South Plains Financial Inc. lifted its stake in Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 49 shares in the last quarter. Humankind Investments LLC lifted its stake in Allstate by 4.5% during the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after acquiring an additional 51 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Allstate by 0.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after purchasing an additional 52 shares during the period. Howard Capital Management Inc. raised its stake in shares of Allstate by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 54 shares during the period. Finally, Montag A & Associates Inc. raised its stake in shares of Allstate by 10.2% during the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 55 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALL. Mizuho lowered their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Piper Sandler lifted their target price on Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Trading Up 1.0%

Shares of ALL opened at $216.64 on Friday. The business has a 50-day moving average of $212.27 and a 200 day moving average of $208.06. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62. The firm has a market cap of $55.77 billion, a P/E ratio of 4.78, a price-to-earnings-growth ratio of 0.39 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the firm posted $3.53 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts forecast that The Allstate Corporation will post 29.28 EPS for the current year.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.