Gamco Investors INC. ET AL Trims Position in The Allstate Corporation $ALL

Gamco Investors INC. ET AL lessened its stake in shares of The Allstate Corporation (NYSE:ALL) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,850 shares of the insurance provider’s stock after selling 3,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Allstate were worth $8,295,000 as of its most recent filing with the Securities & Exchange Commission.

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

Allstate Stock Up 1.4%

Shares of NYSE:ALL opened at $224.36 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The stock’s fifty day simple moving average is $211.62 and its 200-day simple moving average is $207.62. The company has a market capitalization of $57.75 billion, a P/E ratio of 4.95, a P/E/G ratio of 0.40 and a beta of 0.21.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the business posted $3.53 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that The Allstate Corporation will post 29.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Citigroup upped their price target on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and set a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Piper Sandler upped their price objective on Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate Company Profile

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.