The Allstate Corporation $ALL Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of The Allstate Corporation (NYSE:ALL) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,889,192 shares of the insurance provider’s stock after selling 501,813 shares during the quarter. Bank of New York Mellon Corp’s holdings in Allstate were worth $380,313,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Allstate during the 4th quarter worth approximately $231,000. Mutual Advisors LLC grew its position in shares of Allstate by 14.7% in the 1st quarter. Mutual Advisors LLC now owns 2,673 shares of the insurance provider’s stock worth $516,000 after acquiring an additional 342 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Allstate by 22.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,497 shares of the insurance provider’s stock worth $1,138,000 after acquiring an additional 996 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in shares of Allstate by 830.6% in the 1st quarter. TD Private Client Wealth LLC now owns 3,741 shares of the insurance provider’s stock worth $775,000 after acquiring an additional 3,339 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Allstate from $235.00 to $254.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Roth Capital set a $230.00 target price on shares of Allstate and gave the stock a “buy” rating in a report on Friday, September 26th. Jefferies Financial Group raised their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets increased their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.27.

Allstate Stock Performance

Shares of ALL opened at $195.30 on Wednesday. The firm has a fifty day moving average of $202.19 and a 200-day moving average of $201.10. The company has a market cap of $51.46 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.69 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70.

About Allstate

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.