ProShare Advisors LLC Lowers Stake in The Allstate Corporation $ALL

ProShare Advisors LLC lowered its holdings in shares of The Allstate Corporation (NYSE:ALL) by 5.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 66,587 shares of the insurance provider’s stock after selling 3,700 shares during the period. ProShare Advisors LLC’s holdings in Allstate were worth $13,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust lifted its holdings in shares of Allstate by 4.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 53 shares during the last quarter. Linscomb Wealth Inc. grew its stake in shares of Allstate by 1.3% in the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after buying an additional 54 shares during the last quarter. Ancora Advisors LLC increased its position in Allstate by 0.7% during the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock valued at $1,740,000 after buying an additional 55 shares in the last quarter. Cooper Financial Group raised its stake in Allstate by 5.5% during the second quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider’s stock valued at $213,000 after buying an additional 55 shares during the last quarter. Finally, Bank of Hawaii raised its stake in Allstate by 1.4% during the first quarter. Bank of Hawaii now owns 4,046 shares of the insurance provider’s stock valued at $838,000 after buying an additional 56 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 1.7%

Allstate stock opened at $207.28 on Wednesday. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.70. The business’s fifty day moving average is $201.95 and its 200 day moving average is $201.40. The stock has a market capitalization of $54.24 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.91 EPS. On average, sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald raised Allstate to a “hold” rating in a research note on Wednesday, August 13th. BMO Capital Markets upped their price target on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Jefferies Financial Group increased their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Raymond James Financial restated a “strong-buy” rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. Finally, Wells Fargo & Company upped their target price on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $237.13.

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.