Wilsey Asset Management Inc. Raises Stock Holdings in The Allstate Co. (NYSE:ALL)
Wilsey Asset Management Inc. grew its stake in shares of The Allstate Co. (NYSE:ALL) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,396 shares of the insurance provider’s stock after buying an additional 2,899 shares during the period. The Allstate makes up 6.5% of Wilsey Asset Management Inc.’s portfolio, making the stock its 5th biggest position. Wilsey Asset Management Inc. owned approximately 0.05% of The Allstate worth $14,911,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in The Allstate by 4.2% during the second quarter. BlackRock Inc. now owns 26,583,375 shares of the insurance provider’s stock worth $2,578,325,000 after buying an additional 1,070,033 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of The Allstate by 1.1% during the 1st quarter. Invesco Ltd. now owns 4,055,327 shares of the insurance provider’s stock valued at $371,995,000 after purchasing an additional 44,511 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of The Allstate by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 3,525,617 shares of the insurance provider’s stock valued at $341,952,000 after purchasing an additional 139,800 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of The Allstate by 174.8% during the 2nd quarter. Nordea Investment Management AB now owns 3,285,586 shares of the insurance provider’s stock valued at $314,924,000 after purchasing an additional 2,090,026 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of The Allstate by 11.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,109,665 shares of the insurance provider’s stock valued at $301,607,000 after purchasing an additional 328,302 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Shares of NYSE:ALL traded up $0.87 during trading on Friday, hitting $92.58. 3,520,974 shares of the company were exchanged, compared to its average volume of 2,100,702. The stock has a market cap of $28.91 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of 1.13 and a beta of 0.72. The Allstate Co. has a fifty-two week low of $64.13 and a fifty-two week high of $125.92. The firm has a fifty day moving average price of $92.94 and a two-hundred day moving average price of $95.36. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.
ALL has been the topic of several research reports. Credit Suisse Group restated a “hold” rating on shares of The Allstate in a research note on Thursday, July 9th. Keefe, Bruyette & Woods upgraded The Allstate from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $107.00 to $108.00 in a research note on Tuesday, September 22nd. ValuEngine upgraded The Allstate from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Morgan Stanley cut their target price on The Allstate from $109.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Finally, Zacks Investment Research cut The Allstate from a “buy” rating to a “hold” rating and set a $96.00 target price on the stock. in a research note on Monday, September 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $113.08.
The Allstate Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; liability insurance products; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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