Sentry Investment Management LLC lessened its position in shares of Allstate Corp (NYSE:ALL) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,871 shares of the insurance provider’s stock after selling 1,838 shares during the period. Sentry Investment Management LLC’s holdings in Allstate were worth $1,966,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of ALL. Tdam USA Inc. lifted its holdings in Allstate by 20.5% during the 1st quarter. Tdam USA Inc. now owns 5,077 shares of the insurance provider’s stock worth $478,000 after purchasing an additional 865 shares in the last quarter. Fulcrum Capital LLC purchased a new stake in Allstate during the 1st quarter worth about $248,000. Front Barnett Associates LLC lifted its holdings in Allstate by 131.4% during the 1st quarter. Front Barnett Associates LLC now owns 5,723 shares of the insurance provider’s stock worth $539,000 after purchasing an additional 3,250 shares in the last quarter. 9258 Wealth Management LLC lifted its holdings in Allstate by 28.0% during the 1st quarter. 9258 Wealth Management LLC now owns 4,675 shares of the insurance provider’s stock worth $440,000 after purchasing an additional 1,024 shares in the last quarter. Finally, Smith Moore & CO. lifted its holdings in Allstate by 57.8% during the 1st quarter. Smith Moore & CO. now owns 4,125 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 1,511 shares in the last quarter. 80.27% of the stock is currently owned by hedge funds and other institutional investors.
ALL traded up $0.79 on Tuesday, hitting $96.73. 352,430 shares of the company were exchanged, compared to its average volume of 2,068,938. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.29 and a quick ratio of 0.29. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $102.73. The firm has a market cap of $31.99 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.28 and a beta of 0.83.
Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.02. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The business had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the company earned $2.96 EPS. Allstate’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allstate Corp will post 9 EPS for the current year.
A number of brokerages recently issued reports on ALL. Morgan Stanley increased their price objective on Allstate from $94.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. UBS Group upped their target price on Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Credit Suisse Group lowered Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research note on Monday, April 8th. William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a research note on Wednesday, February 6th. Finally, ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $101.73.
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Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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