Smith Group Asset Management LLC Makes New $612,000 Investment in The Allstate Corporation $ALL

Smith Group Asset Management LLC bought a new position in The Allstate Corporation (NYSE:ALL) in the second quarter, Holdings Channel.com reports. The institutional investor bought 3,040 shares of the insurance provider’s stock, valued at approximately $612,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Allstate by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider’s stock worth $6,791,914,000 after purchasing an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock worth $2,424,710,000 after purchasing an additional 2,374,684 shares in the last quarter. GQG Partners LLC raised its holdings in Allstate by 2.1% in the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock worth $912,288,000 after purchasing an additional 89,185 shares in the last quarter. Boston Partners raised its holdings in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock worth $512,627,000 after purchasing an additional 2,134,893 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Allstate by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock worth $482,073,000 after purchasing an additional 497,982 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

Shares of NYSE ALL opened at $194.46 on Friday. The business’s 50 day moving average price is $204.54 and its 200 day moving average price is $200.89. The firm has a market cap of $51.24 billion, a P/E ratio of 9.14, a P/E/G ratio of 0.71 and a beta of 0.38. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. Barclays restated an “underweight” rating and set a $198.00 price target (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Jefferies Financial Group boosted their price target on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Evercore ISI set a $233.00 price target on Allstate and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on Allstate from $235.00 to $254.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $234.60.

Allstate 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.