GPS Wealth Strategies Group LLC Trims Stock Position in The Allstate Corporation $ALL

GPS Wealth Strategies Group LLC cut its stake in shares of The Allstate Corporation (NYSE:ALL) by 63.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,394 shares of the insurance provider’s stock after selling 2,460 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Allstate were worth $290,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in Allstate by 0.7% during the third quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after buying an additional 85,468 shares during the period. Boston Partners increased its holdings in Allstate by 14.9% during the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after buying an additional 395,195 shares during the period. Raymond James Financial Inc. increased its holdings in Allstate by 3.3% during the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after buying an additional 88,620 shares during the period. Dimensional Fund Advisors LP increased its holdings in Allstate by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after buying an additional 401,700 shares during the period. Finally, Legal & General Group Plc increased its holdings in Allstate by 6.7% during the third quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock valued at $431,707,000 after buying an additional 126,401 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Barclays lifted their price target on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a report on Wednesday, April 8th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 price target on shares of Allstate in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

Insider Transactions at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.55% of the stock is owned by corporate insiders.

Allstate Trading Up 1.0%

NYSE ALL opened at $216.64 on Friday. The company has a market capitalization of $55.77 billion, a PE ratio of 4.78, a P/E/G ratio of 0.39 and a beta of 0.21. The company has a fifty day moving average of $212.27 and a 200 day moving average of $208.06. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.53 earnings per share. Research analysts forecast that The Allstate Corporation will post 29.22 earnings per share 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.