Pullen Investment Management LLC Sells 5,502 Shares of The Allstate Corporation $ALL

Pullen Investment Management LLC lowered its position in The Allstate Corporation (NYSE:ALL) by 51.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,104 shares of the insurance provider’s stock after selling 5,502 shares during the period. Pullen Investment Management LLC’s holdings in Allstate were worth $1,132,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Allstate in the 2nd quarter worth about $5,439,448,000. Bank of America Corp DE purchased a new stake in Allstate in the 2nd quarter valued at about $1,410,362,000. GQG Partners LLC purchased a new stake in Allstate in the 2nd quarter valued at about $1,245,710,000. Deutsche Bank AG bought a new position in shares of Allstate during the 2nd quarter worth approximately $1,008,648,000. Finally, Legal & General Group Plc bought a new position in shares of Allstate during the 2nd quarter worth approximately $455,302,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALL shares. Morgan Stanley cut their target price on Allstate from $265.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Argus set a $238.00 price target on Allstate in a research report on Friday, August 28th. Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a report on Wednesday, October 14th. Citigroup dropped their price target on Allstate from $240.00 to $215.00 and set a “sell” rating on the stock in a report on Friday, October 2nd. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and set a $266.00 price objective on the stock in a research report on Wednesday, October 7th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $270.19.

Trending Headlines about Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate prevailed in a Texas coverage dispute involving a vacant property. The ruling supports the insurer’s ability to enforce policy vacancy provisions, potentially limiting claims costs and reinforcing underwriting discipline. Vacant clause can void cover: US court backs Allstate in Texas case
• Positive Sentiment: Allstate retained $9,000 in a subrogation-related dispute after a court placed the premature filing cost on the opposing liability carrier. The financial impact is small, but the decision may support Allstate’s claims-handling position. Allstate keeps $9,000 as premature subrogation cost falls on liability carrier
• Positive Sentiment: Bank of America raised its price target on Allstate to $340 from $336, signaling continued confidence in the insurer’s earnings outlook and valuation. BofA raises target from $336 to $340
• Positive Sentiment: A valuation-focused analysis said Allstate still appears inexpensive despite a 131% advance, potentially attracting investors who expect further benefits from strong insurance pricing and improved profitability. Allstate stock still looks cheap after its 131% run
• Neutral Sentiment: Allstate shares gained 3.76% in the referenced session, although KBW maintained its Sell rating, highlighting a disconnect between short-term trading momentum and analyst conviction. KBW keeps Sell rating
• Neutral Sentiment: UBS reiterated its Hold rating, offering no new catalyst but indicating the firm sees limited justification for changing its current view. UBS keeps Hold rating
• Negative Sentiment: Analysts expect Allstate’s third-quarter earnings per share to decline by double digits year over year, creating concern ahead of the company’s November earnings release. What to expect from Allstate’s next quarterly earnings report
• Negative Sentiment: KBW’s continued Sell rating remains a notable overhang, suggesting the firm believes Allstate’s strong rally has outpaced its fundamental value. KBW keeps Sell rating
• Negative Sentiment: The price target for Allstate’s preferred stock was reduced 12.29% to $19.21, signaling weaker expectations for that security, although it does not directly change the valuation of the common shares. Allstate preferred stock price target decreased

Allstate Stock Performance

NYSE ALL opened at $253.24 on Monday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a 50-day simple moving average of $245.78 and a 200 day simple moving average of $236.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $64.03 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13.

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 analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the previous year, the company earned $5.94 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, research analysts predict that The Allstate Corporation will post 36.21 EPS for the current year.

Insider Activity at Allstate

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

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.