Birmingham Capital Management Co. Inc. AL Has $9.47 Million Holdings in The Allstate Corporation $ALL

Birmingham Capital Management Co. Inc. AL trimmed its holdings in The Allstate Corporation (NYSE:ALL) by 7.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 47,055 shares of the insurance provider’s stock after selling 3,989 shares during the quarter. Allstate makes up 4.2% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 3rd largest position. Birmingham Capital Management Co. Inc. AL’s holdings in Allstate were worth $9,473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ALL. Arlington Trust Co LLC boosted its holdings in shares of Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after buying an additional 89 shares during the period. Hughes Financial Services LLC bought a new stake in shares of Allstate during the 1st quarter worth $28,000. Hilltop National Bank bought a new stake in shares of Allstate during the 2nd quarter worth $34,000. Meeder Asset Management Inc. boosted its holdings in shares of Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after buying an additional 99 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Allstate during the 1st quarter worth $43,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALL has been the subject of several recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. UBS Group upped their target price on shares of Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Barclays reiterated an “underweight” rating and set a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Allstate from $235.00 to $254.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday, August 5th. Two equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $234.60.

Allstate Trading Up 0.6%

Shares of ALL stock opened at $195.96 on Monday. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.70. The stock has a market cap of $51.64 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 0.72 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 firm has a fifty day moving average of $205.61 and a 200-day moving average of $200.84.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the company posted $1.61 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

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.