The Allstate Corporation $ALL Stock Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of The Allstate Corporation (NYSE:ALL) by 50.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,300 shares of the insurance provider’s stock after purchasing an additional 121,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.14% of Allstate worth $81,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Allstate during the 2nd quarter worth approximately $5,439,448,000. Bank of America Corp DE raised its position in shares of Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after acquiring an additional 596,321 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Allstate in the 2nd quarter valued at approximately $1,245,710,000. Deutsche Bank AG purchased a new position in shares of Allstate in the 2nd quarter valued at approximately $1,008,648,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Allstate by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock valued at $581,515,000 after purchasing an additional 154,259 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ALL. Keefe, Bruyette & Woods dropped their price target on Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a research report on Monday, October 12th. Bank of America increased their price objective on Allstate from $336.00 to $340.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Cantor Fitzgerald boosted their price objective on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays reduced their price target on Allstate from $226.00 to $221.00 and set an “underweight” rating for the company in a report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Allstate has an average rating of “Hold” and a consensus price target of $270.19.

Insiders Place Their Bets

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by corporate insiders.

Allstate Stock Performance

Shares of NYSE ALL opened at $259.66 on Friday. The Allstate Corporation has a 12-month low of $188.15 and a 12-month high of $277.22. The firm has a market capitalization of $65.66 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 0.57 and a beta of 0.13. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $245.39 and a 200 day moving average of $228.12.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the business earned $5.94 earnings per share. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that The Allstate Corporation will post 36.21 earnings per share for the current year.

Allstate Profile

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.