Commonwealth Equity Services LLC lowered its stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,602 shares of the insurance provider’s stock after selling 3,376 shares during the period. Commonwealth Equity Services LLC’s holdings in Allstate were worth $18,770,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of ALL. Kendall Capital Management increased its stake in shares of Allstate by 2.4% during the 3rd quarter. Kendall Capital Management now owns 1,730 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 40 shares during the last quarter. Insight Inv LLC boosted its position in Allstate by 0.3% during the 3rd quarter. Insight Inv LLC now owns 13,682 shares of the insurance provider’s stock worth $3,035,000 after purchasing an additional 44 shares during the period. Cornerstone Financial Management LLC boosted its position in Allstate by 24.9% during the 2nd quarter. Cornerstone Financial Management LLC now owns 226 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 45 shares during the period. Capital Advisors Inc. OK increased its holdings in Allstate by 2.6% in the 2nd quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider’s stock valued at $435,000 after purchasing an additional 46 shares in the last quarter. Finally, Providence Wealth Advisors LLC increased its holdings in Allstate by 0.3% in the 3rd quarter. Providence Wealth Advisors LLC now owns 13,887 shares of the insurance provider’s stock valued at $3,107,000 after purchasing an additional 46 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.
Allstate News Summary
Here are the key news stories impacting Allstate this week:
- Positive Sentiment: UBS raised its price target to $283 from $275, implying about 8.3% upside from $261.31. The firm kept a neutral rating, so the higher valuation is supportive but not a bullish endorsement. UBS analyst recommendations
- Neutral Sentiment: Morgan Stanley lifted its target to $260 from $240 but maintained an equal-weight rating; its revised target is slightly below the quoted share price. Morgan Stanley analyst recommendations
- Neutral Sentiment: Allstate published Thanksgiving driving-risk findings from its Drivewise data, including a sharp increase in high-speed driving on Thanksgiving morning. The report may support brand visibility but does not indicate a direct earnings impact. Allstate Thanksgiving Driver Report
- Neutral Sentiment: Allstate CEO Tom Wilson appeared in a CNBC interview; the provided item does not specify comments likely to affect the company’s outlook. CNBC interview with Allstate CEO Tom Wilson
- Negative Sentiment: Keefe, Bruyette & Woods raised its target to $241 from $232 but retained an underperform rating, implying about 7.8% downside from $261.31. Keefe, Bruyette & Woods analyst recommendations
- Negative Sentiment: Other recent reports cited HSBC cutting Allstate to hold and price targets raised to $252 and $225—both below the quoted share price. HSBC cuts Allstate to hold Allstate price target raised to $252 Allstate price target raised to $225
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Morgan Stanley boosted their price objective on Allstate from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Roth Capital set a $300.00 target price on Allstate in a research note on Thursday, August 6th. Jefferies Financial Group reduced their price target on Allstate from $310.00 to $292.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $315.00 target price (up from $300.00) on shares of Allstate in a research report on Tuesday, August 11th. Finally, BMO Capital Markets upped their price target on shares of Allstate from $250.00 to $284.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $273.48.
Read Our Latest Analysis on Allstate
Allstate Stock Up 3.0%
ALL opened at $261.31 on Wednesday. The Allstate Corporation has a 12 month low of $191.13 and a 12 month high of $281.11. The stock’s 50 day moving average price is $245.83 and its 200 day moving average price is $230.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market cap of $64.66 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.55 and a beta of 0.13.
Allstate (NYSE:ALL – Get Free Report) last released its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 EPS for the quarter, beating the consensus estimate of $6.89 by $2.87. The firm had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a net margin of 16.57% and a return on equity of 38.37%. Allstate’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $11.17 EPS. As a group, research analysts predict that The Allstate Corporation will post 36.95 earnings per share for the current year.
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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