Amalgamated Bank Increases Position in The Allstate Corporation $ALL

Amalgamated Bank lifted its holdings in The Allstate Corporation (NYSE:ALL) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,368 shares of the insurance provider’s stock after purchasing an additional 459 shares during the period. Amalgamated Bank’s holdings in Allstate were worth $10,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Rehmann Capital Advisory Group increased its stake in shares of Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after purchasing an additional 51 shares in the last quarter. Linscomb Wealth Inc. boosted its holdings in Allstate by 1.3% in the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after buying an additional 54 shares during the last quarter. Ancora Advisors LLC boosted its holdings in Allstate by 0.7% in the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after buying an additional 55 shares during the last quarter. Cooper Financial Group boosted its holdings in Allstate by 5.5% in the 2nd quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider’s stock worth $213,000 after buying an additional 55 shares during the last quarter. Finally, Bank of Hawaii boosted its holdings in Allstate by 1.4% in the 1st quarter. Bank of Hawaii now owns 4,046 shares of the insurance provider’s stock worth $838,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ALL shares. BMO Capital Markets lifted their price objective on Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Roth Capital set a $230.00 price objective on Allstate and gave the stock a “buy” rating in a report on Friday, September 26th. Keefe, Bruyette & Woods lifted their price objective on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Finally, Wells Fargo & Company lowered their price objective on Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.27.

Allstate Trading Up 0.9%

Shares of ALL stock opened at $191.73 on Friday. The company’s 50-day moving average price is $202.83 and its 200-day moving average price is $201.05. 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 stock has a market cap of $50.52 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 0.69 and a beta of 0.38. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.70.

Allstate (NYSE:ALL) last announced its quarterly 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 analysts’ expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company’s revenue 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. As a group, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

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.