Ritholtz Wealth Management Boosts Holdings in The Allstate Corporation $ALL

Ritholtz Wealth Management lifted its stake in The Allstate Corporation (NYSE:ALL) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,270 shares of the insurance provider’s stock after purchasing an additional 88 shares during the quarter. Ritholtz Wealth Management’s holdings in Allstate were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Innova Wealth Partners purchased a new position in Allstate in the 2nd quarter worth about $219,000. Sagespring Wealth Partners LLC raised its position in Allstate by 5.5% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 8,085 shares of the insurance provider’s stock worth $1,628,000 after buying an additional 423 shares during the last quarter. TD Asset Management Inc raised its position in Allstate by 14.4% in the 2nd quarter. TD Asset Management Inc now owns 269,666 shares of the insurance provider’s stock worth $54,286,000 after buying an additional 34,006 shares during the last quarter. RFG Advisory LLC raised its position in Allstate by 54.8% in the 2nd quarter. RFG Advisory LLC now owns 2,271 shares of the insurance provider’s stock worth $457,000 after buying an additional 804 shares during the last quarter. Finally, NorthRock Partners LLC raised its position in Allstate by 6.1% in the 2nd quarter. NorthRock Partners LLC now owns 6,923 shares of the insurance provider’s stock worth $1,401,000 after buying an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent analyst reports. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. Barclays reissued an “underweight” rating and issued a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Roth Capital set a $230.00 price target on Allstate and gave the company a “buy” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $235.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Citigroup raised shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.50.

Allstate Trading Down 4.2%

Shares of NYSE:ALL opened at $200.67 on Thursday. The stock has a 50 day moving average of $206.03 and a 200 day moving average of $201.06. The company has a market cap of $52.88 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70.

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. The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. As a group, equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current 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.