Benin Management CORP Has $6.52 Million Position in The Allstate Co. (NYSE:ALL)

Benin Management CORP trimmed its holdings in The Allstate Co. (NYSE:ALL) by 0.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 34,372 shares of the insurance provider’s stock after selling 325 shares during the quarter. Allstate comprises about 1.8% of Benin Management CORP’s portfolio, making the stock its 8th biggest holding. Benin Management CORP’s holdings in Allstate were worth $6,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALL. BDF Gestion bought a new position in Allstate during the 2nd quarter valued at $3,051,000. BNP Paribas Financial Markets boosted its stake in shares of Allstate by 55.8% during the 1st 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 in the last quarter. OFI Invest Asset Management bought a new stake in shares of Allstate during the 2nd quarter worth $476,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Allstate by 12.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock worth $8,717,000 after acquiring an additional 5,586 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Allstate by 251.8% during the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock worth $9,185,000 after acquiring an additional 38,001 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company reduced their price objective on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. TD Cowen increased their target price on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. BMO Capital Markets increased their target price on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday. Finally, Evercore ISI increased their target price on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.50.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated 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 directly owns 88,552 shares in the company, 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. Insiders have sold a total of 192,530 shares of company stock worth $34,967,665 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Down 0.8 %

Shares of NYSE:ALL traded down $1.55 during midday trading on Monday, hitting $193.82. 187,729 shares of the stock were exchanged, compared to its average volume of 1,541,715. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 52-week low of $121.70 and a 52-week high of $198.79. The business’s fifty day simple moving average is $186.66 and its two-hundred day simple moving average is $173.81. The company has a market capitalization of $51.15 billion, a PE ratio of 43.13, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $14.04 billion. During the same period last year, the company earned ($4.42) earnings per share. Allstate’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts predict that The Allstate Co. will post 15.19 earnings per share for the current fiscal year.

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.