Meridian Wealth Advisors LLC increased its position in Allstate Corp (NYSE:ALL) by 9.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,930 shares of the insurance provider’s stock after acquiring an additional 770 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Allstate were worth $841,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Boston Partners boosted its stake in Allstate by 17.1% in the 1st quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock worth $1,045,965,000 after purchasing an additional 1,620,871 shares during the period. Macquarie Group Ltd. boosted its stake in Allstate by 6.3% in the 4th quarter. Macquarie Group Ltd. now owns 7,852,608 shares of the insurance provider’s stock worth $648,861,000 after purchasing an additional 468,725 shares during the period. Northern Trust Corp boosted its stake in Allstate by 2.1% in the 4th quarter. Northern Trust Corp now owns 6,681,038 shares of the insurance provider’s stock worth $552,054,000 after purchasing an additional 135,679 shares during the period. LSV Asset Management boosted its stake in Allstate by 2.4% in the 4th quarter. LSV Asset Management now owns 5,650,351 shares of the insurance provider’s stock worth $466,888,000 after purchasing an additional 130,257 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Allstate by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock worth $390,468,000 after purchasing an additional 391,869 shares during the period. 80.27% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Credit Suisse Group downgraded Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, April 8th. William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 6th. ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $94.00 price target on shares of Allstate in a research report on Tuesday, March 12th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $101.91.
Shares of ALL traded down $0.20 during trading hours on Friday, reaching $95.67. 3,628 shares of the company’s stock traded hands, compared to its average volume of 1,708,249. The company has a market cap of $31.79 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.83. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.30. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $102.73.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.02. The firm had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.82 billion. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $2.96 EPS. As a group, analysts predict that Allstate Corp will post 9 earnings per share for the current year.
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 insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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