Atria Wealth Solutions Inc. Lowers Stock Position in The Allstate Corporation $ALL

Atria Wealth Solutions Inc. reduced its stake in shares of The Allstate Corporation (NYSE:ALL) by 34.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,130 shares of the insurance provider’s stock after selling 1,635 shares during the period. Atria Wealth Solutions Inc.’s holdings in Allstate were worth $627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its stake in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Hughes Financial Services LLC bought a new stake in Allstate during the 1st quarter valued at approximately $28,000. Hilltop National Bank bought a new stake in Allstate during the 2nd quarter valued at approximately $34,000. Meeder Asset Management Inc. raised its stake in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 99 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in Allstate during the 1st quarter valued at approximately $43,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ALL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Allstate from $235.00 to $254.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Jefferies Financial Group lifted their price objective on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, BMO Capital Markets lifted their price objective on Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.60.

Allstate Stock Performance

NYSE ALL opened at $195.96 on Friday. The company has a market cap of $51.64 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.72 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50 day moving average price is $205.61 and its 200-day moving average price is $200.87. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for 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 company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. Sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share 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.