Keybank National Association OH Cuts Stock Holdings in The Allstate Corporation $ALL

Keybank National Association OH decreased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 13.2% in the 2nd quarter, Holdings Channel reports. The firm owned 182,832 shares of the insurance provider’s stock after selling 27,783 shares during the period. Keybank National Association OH’s holdings in Allstate were worth $36,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Premier Path Wealth Partners LLC grew its holdings in shares of Allstate by 7.3% during the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $495,000 after purchasing an additional 167 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in Allstate by 8.4% in the second quarter. Arkadios Wealth Advisors now owns 5,370 shares of the insurance provider’s stock worth $1,081,000 after buying an additional 415 shares in the last quarter. Howard Capital Management Inc. boosted its stake in Allstate by 11.6% in the second quarter. Howard Capital Management Inc. now owns 1,685 shares of the insurance provider’s stock worth $341,000 after buying an additional 175 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Allstate by 577.1% in the second quarter. Y Intercept Hong Kong Ltd now owns 68,107 shares of the insurance provider’s stock worth $13,711,000 after buying an additional 58,048 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its stake in Allstate by 4.0% in the second quarter. Transcend Capital Advisors LLC now owns 6,776 shares of the insurance provider’s stock worth $1,364,000 after buying an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $191.73 on Friday. The firm has a market cap of $50.52 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 0.69 and a beta of 0.38. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70. 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 has a 50 day moving average price of $202.83 and a 200-day moving average price of $201.05.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on ALL. Wells Fargo & Company cut their target price on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their target price on Allstate from $235.00 to $254.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Wolfe Research raised Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods increased their price objective on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.27.

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.