Karras Company Inc. Acquires New Position in The Allstate Corporation $ALL

Karras Company Inc. acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,383 shares of the insurance provider’s stock, valued at approximately $1,121,000. Allstate makes up about 1.1% of Karras Company Inc.’s investment portfolio, making the stock its 25th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Navalign LLC purchased a new position in Allstate during the fourth quarter valued at approximately $27,000. Dorato Capital Management purchased a new position in Allstate during the fourth quarter valued at approximately $27,000. Palisade Asset Management LLC purchased a new position in Allstate during the third quarter valued at approximately $31,000. Princeton Global Asset Management LLC grew its position in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 76 shares in the last quarter. Finally, South Plains Financial Inc. grew its position in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

ALL stock opened at $216.64 on Friday. 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 company has a market capitalization of $55.77 billion, a price-to-earnings ratio of 4.78, a P/E/G ratio of 0.39 and a beta of 0.21. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $227.62. The firm has a 50 day moving average of $212.27 and a two-hundred day moving average of $208.06.

Allstate (NYSE:ALL) last posted 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 company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.53 earnings per share. As a group, equities analysts anticipate that The Allstate Corporation will post 29.22 EPS for the current fiscal year.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.