Commonwealth Retirement Investments LLC Grows Stake in The Allstate Co. (NYSE:ALL)

Commonwealth Retirement Investments LLC increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,813 shares of the insurance provider’s stock after purchasing an additional 479 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Allstate were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. BDF Gestion acquired a new stake in shares of Allstate during the second quarter worth about $3,051,000. OFI Invest Asset Management acquired a new position in Allstate during the second quarter worth approximately $476,000. Cetera Investment Advisers lifted its stake in Allstate by 351.6% in the first quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock valued at $11,284,000 after buying an additional 50,780 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Allstate by 505.3% in the second quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock valued at $1,265,000 after acquiring an additional 6,614 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Allstate by 97.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 271,464 shares of the insurance provider’s stock worth $46,966,000 after purchasing an additional 134,028 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALL shares. Barclays increased their price objective on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. UBS Group increased their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Bank of America lifted their price target on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, BMO Capital Markets raised their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.56.

Allstate Trading Up 0.2 %

Shares of ALL traded up $0.43 on Tuesday, hitting $197.95. 134,408 shares of the stock traded hands, compared to its average volume of 1,543,858. The stock’s 50 day moving average is $189.26 and its two-hundred day moving average is $176.05. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $52.42 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.83 and a beta of 0.48. The Allstate Co. has a 1 year low of $129.17 and a 1 year high of $201.00.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. As a group, sell-side analysts predict that The Allstate Co. will post 15.32 earnings per share for the current year.

Insider Activity

In other news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Elizabeth Brady sold 49,481 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,530 shares of company stock valued at $34,967,665. Company insiders own 1.80% of the company’s stock.

About Allstate

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.