Vise Technologies Inc. Makes New $7.87 Million Investment in The Allstate Corporation $ALL

Vise Technologies Inc. acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 35,491 shares of the insurance provider’s stock, valued at approximately $7,874,000.

Other hedge funds also recently made changes to their positions in the company. Strategic Global Advisors LLC purchased a new stake in shares of Allstate in the second quarter valued at approximately $11,680,000. OMERS ADMINISTRATION Corp acquired a new position in Allstate during the second quarter worth $6,861,000. QRG Capital Management Inc. raised its position in Allstate by 82.1% in the second quarter. QRG Capital Management Inc. now owns 94,687 shares of the insurance provider’s stock worth $22,427,000 after acquiring an additional 42,690 shares in the last quarter. Bank of America Corp DE purchased a new position in Allstate in the second quarter worth $1,410,362,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Allstate in the second quarter valued at $42,409,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 1.7%

Allstate stock opened at $264.32 on Tuesday. 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 firm has a market capitalization of $66.84 billion, a price-to-earnings ratio of 5.28, a price-to-earnings-growth ratio of 0.55 and a beta of 0.13. The Allstate Corporation has a fifty-two week low of $188.15 and a fifty-two week high of $277.22. The stock’s fifty day moving average is $245.60 and its two-hundred day moving average is $228.45.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the previous year, the company posted $5.94 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Analysts predict that The Allstate Corporation will post 36.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Allstate from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $250.00 to $236.00 in a research report on Monday, October 12th. 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. TD Cowen raised their price objective on shares of Allstate from $231.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, September 23rd. Wall Street Zen downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 25th. Finally, Argus set a $238.00 target price on shares of Allstate in a research report on Friday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given 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 company currently has a consensus rating of “Hold” and a consensus price target of $270.19.

Insider Activity

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

Allstate Company 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.