Kornitzer Capital Management Inc. KS Acquires 3,699 Shares of The Allstate Co. (NYSE:ALL)

Kornitzer Capital Management Inc. KS grew its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 245,285 shares of the insurance provider's stock after buying an additional 3,699 shares during the quarter. Allstate accounts for about 0.9% of Kornitzer Capital Management Inc. KS's investment portfolio, making the stock its 24th largest holding. Kornitzer Capital Management Inc. KS owned about 0.09% of Allstate worth $47,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ALL. Creative Planning increased its position in shares of Allstate by 5.2% in the 3rd quarter. Creative Planning now owns 66,823 shares of the insurance provider's stock worth $12,673,000 after purchasing an additional 3,280 shares during the last quarter. Global Retirement Partners LLC grew its stake in Allstate by 12.0% in the third quarter. Global Retirement Partners LLC now owns 2,674 shares of the insurance provider's stock worth $507,000 after purchasing an additional 286 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Allstate by 3.1% in the third quarter. Bleakley Financial Group LLC now owns 5,840 shares of the insurance provider's stock valued at $1,108,000 after buying an additional 173 shares during the last quarter. Blue Trust Inc. raised its stake in Allstate by 90.4% during the third quarter. Blue Trust Inc. now owns 2,989 shares of the insurance provider's stock valued at $567,000 after buying an additional 1,419 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its holdings in Allstate by 9.6% during the 3rd quarter. Resonant Capital Advisors LLC now owns 1,827 shares of the insurance provider's stock worth $348,000 after buying an additional 160 shares during 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 have recently weighed in on the company. UBS Group boosted their price target on Allstate from $216.00 to $225.00 and gave the company a "buy" rating in a report on Monday, November 4th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Morgan Stanley raised their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their price objective on Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $217.94.

Allstate Stock Down 1.9 %

Shares of Allstate stock traded down $3.67 during midday trading on Friday, hitting $185.51. The company's stock had a trading volume of 1,427,939 shares, compared to its average volume of 1,864,422. The firm has a market capitalization of $49.12 billion, a P/E ratio of 10.92, a PEG ratio of 1.05 and a beta of 0.52. The Allstate Co. has a 1-year low of $153.87 and a 1-year high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $190.25 and a 200-day simple moving average of $190.15.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, sell-side analysts expect that The Allstate Co. will post 18.65 earnings per share for the current year.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

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.