Truist Financial Corp Has $23.96 Million Stake in The Allstate Corporation $ALL

Truist Financial Corp trimmed its position in shares of The Allstate Corporation (NYSE:ALL) by 6.8% in the fourth quarter, Holdings Channel reports. The fund owned 115,126 shares of the insurance provider’s stock after selling 8,335 shares during the quarter. Truist Financial Corp’s holdings in Allstate were worth $23,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in ALL. Brighton Jones LLC boosted its stake in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new position in Allstate in the 4th quarter worth approximately $231,000. WINTON GROUP Ltd acquired a new position in shares of Allstate during the second quarter worth approximately $210,000. Treasurer of the State of North Carolina lifted its holdings in shares of Allstate by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after buying an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC boosted its position in shares of Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after acquiring an additional 6,412 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALL. Barclays raised their price objective on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Evercore set a $225.00 price objective on shares of Allstate in a report on Wednesday, January 7th. Finally, Mizuho cut their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $241.33.

Allstate Stock Performance

ALL opened at $217.95 on Thursday. The stock’s 50 day simple moving average is $210.82 and its 200-day simple moving average is $206.14. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $56.11 billion, a PE ratio of 4.81, a P/E/G ratio of 0.42 and a beta of 0.21. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $222.23.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $3.53 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 27.62 EPS for the current year.

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.55% of the company’s stock.

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.