M Holdings Securities Inc. bought a new stake in The Allstate Corporation (NYSE:ALL – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,164 shares of the insurance provider’s stock, valued at approximately $480,000.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Allstate in the 2nd quarter worth about $5,439,448,000. Bank of America Corp DE increased its position in shares of Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC bought a new position in shares of Allstate during the 2nd quarter valued at about $1,245,710,000. Deutsche Bank AG purchased a new position in shares of Allstate during the 2nd quarter valued at about $1,008,648,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Allstate by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock valued at $581,515,000 after buying an additional 154,259 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Allstate Stock Up 0.3%
Shares of NYSE:ALL opened at $262.01 on Thursday. The stock has a market capitalization of $64.84 billion, a P/E ratio of 5.93, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13. The stock’s 50-day moving average price is $245.92 and its 200-day moving average price is $230.81. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12-month low of $191.13 and a 12-month high of $281.11.
Allstate (NYSE:ALL – Get Free Report) last released its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $2.87. The company had revenue of $17.35 billion during the quarter, compared to analyst estimates of $15.87 billion. Allstate had a return on equity of 38.37% and a net margin of 16.57%. Allstate’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $11.17 EPS. On average, equities analysts anticipate that The Allstate Corporation will post 37.33 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently weighed in on ALL. Jefferies Financial Group dropped their target price on Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. The Goldman Sachs Group reduced their price target on shares of Allstate from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Evercore boosted their price objective on shares of Allstate from $240.00 to $262.00 in a report on Thursday, October 8th. Finally, Bank of America boosted their price objective on shares of Allstate from $336.00 to $340.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $273.48.
About Allstate
Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.
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