Kestra Advisory Services LLC boosted its position in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,302 shares of the insurance provider’s stock after purchasing an additional 3,752 shares during the period. Kestra Advisory Services LLC’s holdings in Allstate were worth $8,276,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Allstate during the second quarter valued at approximately $5,439,448,000. Bank of America Corp DE lifted its position in shares of Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC purchased a new stake in Allstate in the 2nd quarter valued at about $1,245,710,000. Deutsche Bank AG purchased a new stake in Allstate in the 2nd quarter valued at about $1,008,648,000. Finally, Dimensional Fund Advisors LP grew its stake in Allstate by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after acquiring an additional 154,259 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.
Allstate Stock Up 3.0%
Shares of ALL stock opened at $261.31 on Wednesday. The stock’s fifty 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 Allstate Corporation has a 1-year low of $191.13 and a 1-year high of $281.11. The company has a market cap of $64.66 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 0.55 and a beta of 0.13.
Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share for the quarter, topping the consensus estimate of $6.89 by $2.87. Allstate had a return on equity of 38.37% and a net margin of 16.57%. The business had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $15.87 billion. During the same quarter last year, the company earned $11.17 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts expect that The Allstate Corporation will post 36.95 earnings per share for the current fiscal year.
Key Allstate News
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
Analysts Set New Price Targets
Several research firms have recently weighed in on ALL. Bank of America lifted their price target on shares of Allstate from $336.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Raymond James Financial reiterated a “strong-buy” rating and set a $315.00 target price (up from $300.00) on shares of Allstate in a report on Tuesday, August 11th. Citigroup upped their price target on shares of Allstate from $215.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, November 6th. Roth Capital set a $300.00 price objective on shares of Allstate in a research note on Thursday, August 6th. Finally, Argus set a $238.00 target price on Allstate in a research report on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $273.48.
Get Our Latest Report on Allstate
Allstate Company Profile
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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