Spinnaker Trust Buys New Position in The Allstate Co. (NYSE:ALL)

Spinnaker Trust purchased a new position in shares of The Allstate Co. (NYSE:ALL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,210 shares of the insurance provider’s stock, valued at approximately $229,000.

A number of other institutional investors also recently made changes to their positions in ALL. Radnor Capital Management LLC bought a new stake in Allstate in the third quarter worth about $302,000. Leslie Global Wealth LLC acquired a new position in shares of Allstate in the 3rd quarter worth approximately $210,000. Catalina Capital Group LLC bought a new stake in shares of Allstate in the 3rd quarter worth approximately $253,000. Avidian Wealth Enterprises LLC lifted its stake in Allstate by 4.7% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,473 shares of the insurance provider’s stock valued at $1,038,000 after purchasing an additional 247 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Allstate during the third quarter worth approximately $29,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

ALL stock opened at $188.69 on Thursday. The firm has a 50 day moving average of $188.89 and a two-hundred day moving average of $175.59. The Allstate Co. has a 12 month low of $127.93 and a 12 month high of $198.79. The company has a market capitalization of $49.97 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.73 and a beta of 0.48. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities analysts anticipate that The Allstate Co. will post 15.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALL. Evercore ISI boosted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their target price on shares of Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Barclays boosted their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, BMO Capital Markets boosted their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.50.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is owned by 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.