OLD National Bancorp IN Trims Stock Position in The Allstate Co. (NYSE:ALL)

OLD National Bancorp IN lessened its position in The Allstate Co. (NYSE:ALL) by 6.9% in the 3rd quarter, Holdings Channel reports. The fund owned 3,378 shares of the insurance provider’s stock after selling 249 shares during the period. OLD National Bancorp IN’s holdings in Allstate were worth $641,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SPC Financial Inc. lifted its holdings in shares of Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares during the period. Abacus Planning Group Inc. lifted its stake in shares of Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in Allstate by 2.5% during the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after buying an additional 61 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in Allstate by 0.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,567 shares of the insurance provider’s stock worth $1,245,000 after buying an additional 61 shares during the period. Finally, Aprio Wealth Management LLC increased its holdings in Allstate by 5.9% in the third quarter. Aprio Wealth Management LLC now owns 1,360 shares of the insurance provider’s stock valued at $258,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALL shares. Wells Fargo & Company lowered their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. UBS Group upped their price target on shares of Allstate from $215.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Barclays began coverage on shares of Allstate in a research note on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price objective for the company. Morgan Stanley increased their target price on Allstate from $202.00 to $215.00 and gave the company an “overweight” rating in a report on Monday. Finally, Piper Sandler boosted their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.44.

Insider Transactions at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is currently owned by company insiders.

Allstate Stock Down 1.4 %

Shares of ALL opened at $192.64 on Tuesday. The Allstate Co. has a fifty-two week low of $121.70 and a fifty-two week high of $198.79. The company’s fifty day moving average is $187.08 and its two-hundred day moving average is $173.96. The firm has a market cap of $50.84 billion, a PE ratio of 42.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($4.42) earnings per share. Analysts forecast that The Allstate Co. will post 15.19 earnings per share for the current year.

Allstate Company 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.