Axecap Investments LLC Acquires New Shares in The Allstate Co. (NYSE:ALL)

Axecap Investments LLC bought a new position in shares of The Allstate Co. (NYSE:ALL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,869 shares of the insurance provider’s stock, valued at approximately $3,389,000. Allstate makes up 2.6% of Axecap Investments LLC’s holdings, making the stock its 10th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BDF Gestion purchased a new position in Allstate during the second quarter worth about $3,051,000. BNP Paribas Financial Markets boosted its holdings in shares of Allstate by 55.8% in the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Allstate in the 2nd quarter worth about $476,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Allstate by 12.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock worth $8,717,000 after purchasing an additional 5,586 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings 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 worth $9,185,000 after purchasing an additional 38,001 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This trade represents a 0.00 % decrease in their position. 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 firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,530 shares of company stock worth $34,967,665 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America upped their price objective on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays assumed coverage on Allstate in a report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price 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. Wells Fargo & Company dropped their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.44.

Allstate Stock Performance

Shares of ALL opened at $192.79 on Thursday. The business’s fifty day simple moving average is $187.73 and its two-hundred day simple moving average is $174.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 12 month low of $122.47 and a 12 month high of $198.79. The company has a market cap of $50.88 billion, a price-to-earnings ratio of 42.56, a P/E/G ratio of 1.74 and a beta of 0.48.

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

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.