Opal Wealth Advisors LLC Sells 2,852 Shares of The Allstate Corporation $ALL

Opal Wealth Advisors LLC reduced its position in The Allstate Corporation (NYSE:ALL) by 74.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 971 shares of the insurance provider’s stock after selling 2,852 shares during the period. Opal Wealth Advisors LLC’s holdings in Allstate were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. MV Capital Management Inc. acquired a new stake in shares of Allstate during the fourth quarter worth $25,000. Gables Capital Management Inc. purchased a new stake in shares of Allstate in the second quarter valued at $26,000. Kelleher Financial Advisors purchased a new stake in shares of Allstate in the second quarter valued at $28,000. Evolution Wealth Management Inc. increased its stake in Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Allied Private Wealth LLC acquired a new position in Allstate in the second quarter valued at $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 3.2%

Shares of ALL opened at $247.27 on Friday. The firm has a market cap of $62.52 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 0.55 and a beta of 0.13. The company’s fifty day moving average is $246.77 and its two-hundred day moving average is $235.04. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.94 EPS. Analysts forecast that The Allstate Corporation will post 36.25 earnings per share for the current year.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was 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 owned 82,227 shares in the company, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ALL shares. Wells Fargo & Company upgraded Allstate from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $250.00 to $236.00 in a research report on Monday, October 12th. Wall Street Zen upgraded Allstate from a “buy” rating to a “strong-buy” rating in a report on Saturday. Roth Capital set a $300.00 price target on Allstate in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald increased their price objective on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $270.19.

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.