Swiss National Bank lowered its holdings in shares of The Allstate Co. (NYSE:ALL – Free Report) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 950,400 shares of the insurance provider’s stock after selling 102,200 shares during the period. Swiss National Bank owned approximately 0.36% of Allstate worth $103,632,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Cowa LLC bought a new stake in shares of Allstate in the 1st quarter valued at $30,000. Chilton Capital Management LLC bought a new stake in Allstate in the first quarter valued at $33,000. Arlington Partners LLC raised its holdings in shares of Allstate by 2,073.3% during the second quarter. Arlington Partners LLC now owns 326 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares during the period. Barrett & Company Inc. boosted its position in shares of Allstate by 600.0% during the 2nd quarter. Barrett & Company Inc. now owns 350 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Finally, Mcmillion Capital Management Inc. acquired a new stake in shares of Allstate in the 2nd quarter valued at about $38,000. 77.23% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have issued reports on ALL shares. Roth Mkm increased their price target on Allstate from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. StockNews.com upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group increased their price objective on Allstate from $117.00 to $119.00 in a research note on Friday, October 6th. Citigroup lifted their target price on Allstate from $135.00 to $156.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Morgan Stanley restated an “equal weight” rating and set a $117.00 price objective on shares of Allstate in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.50.
Allstate Price Performance
Allstate stock opened at $131.65 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.64. The business’s 50 day simple moving average is $118.81 and its 200 day simple moving average is $113.41. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $142.15. The company has a market cap of $34.45 billion, a price-to-earnings ratio of -16.60 and a beta of 0.52.
Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.42. Allstate had a negative net margin of 3.51% and a negative return on equity of 10.95%. The company had revenue of $14.50 billion for the quarter, compared to analysts’ expectations of $12.78 billion. During the same period in the prior year, the company posted ($1.56) EPS. Allstate’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Co. will post -2.16 EPS for the current year.
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.
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