Pinnacle Financial Partners Inc boosted its position in shares of The Allstate Co. (NYSE:ALL – Free Report) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,726 shares of the insurance provider’s stock after acquiring an additional 465 shares during the period. Pinnacle Financial Partners Inc’s holdings in Allstate were worth $1,715,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. lifted its holdings in Allstate by 40.2% during the 1st quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock worth $26,022,000 after buying an additional 53,824 shares during the last quarter. Prudential PLC acquired a new position in Allstate in the first quarter valued at approximately $1,325,000. Cetera Investment Advisers raised its holdings in Allstate by 13.9% during the first quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock worth $3,260,000 after purchasing an additional 2,874 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of Allstate during the 1st quarter worth approximately $270,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Allstate by 36.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock valued at $448,000 after buying an additional 860 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.
Allstate Stock Performance
Shares of ALL opened at $131.73 on Friday. The company has a 50-day moving average of $115.22 and a two-hundred day moving average of $112.61. The stock has a market cap of $34.46 billion, a P/E ratio of -16.61 and a beta of 0.52. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $142.15. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.59.
Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Thursday, November 2nd. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.42. Allstate had a negative return on equity of 10.53% and a negative net margin of 3.51%. The firm had revenue of $14.50 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same quarter in the prior year, the company earned ($1.56) EPS. Allstate’s revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that The Allstate Co. will post -2.24 EPS for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have issued reports on ALL. Bank of America dropped their price objective on Allstate from $143.00 to $138.00 in a report on Wednesday, August 2nd. Roth Mkm boosted their price objective on Allstate from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley restated an “equal weight” rating and set a $117.00 target price on shares of Allstate in a research report on Tuesday, August 1st. Raymond James decreased their price target on shares of Allstate from $155.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 3rd. Finally, Citigroup increased their target price on shares of Allstate from $135.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.57.
Check Out Our Latest Research Report on Allstate
Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.
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