CNB Bank Trims Position in The Allstate Co. (NYSE:ALL)

CNB Bank lowered its position in The Allstate Co. (NYSE:ALL) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,418 shares of the insurance provider’s stock after selling 512 shares during the quarter. CNB Bank’s holdings in Allstate were worth $838,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ALL. BDF Gestion acquired a new position in Allstate in the 2nd quarter valued at about $3,051,000. BNP Paribas Financial Markets grew its position in Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after acquiring an additional 78,316 shares during the period. OFI Invest Asset Management acquired a new stake in Allstate during the second quarter worth $476,000. Envestnet Portfolio Solutions Inc. raised its position in Allstate by 12.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after purchasing an additional 5,586 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Allstate by 251.8% in the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock valued at $9,185,000 after purchasing an additional 38,001 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets boosted their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Barclays initiated coverage on Allstate in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 target price on the stock. Finally, Morgan Stanley decreased their price target on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.59.

Allstate Stock Down 0.1 %

ALL stock opened at $195.37 on Friday. The company’s 50 day moving average price is $186.66 and its 200 day moving average price is $173.81. The firm has a market capitalization of $51.56 billion, a price-to-earnings ratio of 43.13, a PEG ratio of 1.74 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $121.70 and a fifty-two week high of $198.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.42) EPS. On average, equities research analysts anticipate that The Allstate Co. will post 15.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,530 shares of company stock valued at $34,967,665 in the last ninety days. Insiders own 1.80% of the company’s stock.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.