Birmingham Capital Management Co. Inc. AL Reduces Stock Holdings in The Allstate Corporation $ALL

Birmingham Capital Management Co. Inc. AL reduced its holdings in The Allstate Corporation (NYSE:ALL) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,055 shares of the insurance provider’s stock after selling 3,989 shares during the quarter. Allstate accounts for 4.2% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 3rd biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Allstate were worth $9,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Allstate by 30.3% during the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock valued at $2,352,000 after acquiring an additional 2,643 shares during the period. Atlas Capital Advisors Inc. raised its holdings in shares of Allstate by 197.3% during the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock valued at $1,390,000 after acquiring an additional 4,454 shares during the period. Richard Bernstein Advisors LLC acquired a new stake in shares of Allstate during the first quarter valued at approximately $3,341,000. Dock Street Asset Management Inc. acquired a new stake in shares of Allstate during the first quarter valued at approximately $207,000. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Allstate during the first quarter valued at approximately $22,405,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

ALL stock opened at $195.96 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $51.64 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 0.72 and a beta of 0.38. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $215.70. The firm has a 50 day moving average of $205.61 and a two-hundred day moving average of $200.84.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate 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 net margin of 8.79% and a return on equity of 28.74%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. As a group, equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALL shares. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Tuesday, August 5th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Jefferies Financial Group boosted their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.60.

Allstate Company Profile

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.