Diamond Hill Capital Management Inc. Lowers Stock Holdings in The Allstate Co. (NYSE:ALL)

Diamond Hill Capital Management Inc. lowered its position in The Allstate Co. (NYSE:ALL - Free Report) by 37.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,355,291 shares of the insurance provider's stock after selling 1,391,867 shares during the quarter. Allstate makes up about 1.8% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 19th biggest holding. Diamond Hill Capital Management Inc. owned about 0.89% of Allstate worth $446,681,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ALL. BDF Gestion acquired a new stake in Allstate in the second quarter valued at $3,051,000. OFI Invest Asset Management acquired a new position in shares of Allstate during the second quarter worth $476,000. Cetera Investment Advisers grew its stake in Allstate by 351.6% during the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider's stock valued at $11,284,000 after purchasing an additional 50,780 shares in the last quarter. Diversified Trust Co raised its stake in shares of Allstate by 505.3% in the 2nd quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider's stock valued at $1,265,000 after purchasing an additional 6,614 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Allstate by 97.5% in the first 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 period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the 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 transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal 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 business's stock in a transaction on 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 sale, the insider now directly owns 27,364 shares of the company's stock, valued at $5,236,922.32. The trade was 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 through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,530 shares of company stock valued at $34,967,665. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALL. Wells Fargo & Company boosted their price target on shares of Allstate from $175.00 to $186.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Jefferies Financial Group raised their target price on shares of Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $205.00 to $207.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $222.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, TD Cowen boosted their price objective on shares of Allstate from $193.00 to $224.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $212.56.

Allstate Stock Performance

NYSE ALL traded up $2.56 during trading hours on Monday, hitting $199.46. 314,610 shares of the company's stock traded hands, compared to its average volume of 1,545,540. The firm has a market capitalization of $52.82 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.76 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The business's fifty day moving average price is $189.09 and its two-hundred day moving average price is $175.87. The Allstate Co. has a 52 week low of $129.17 and a 52 week high of $201.00.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analysts' expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Equities research analysts predict that The Allstate Co. will post 15.34 EPS 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.