The Allstate Corporation $ALL Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lowered its holdings in The Allstate Corporation (NYSE:ALL) by 0.8% in the second quarter, Holdings Channel reports. The firm owned 51,726 shares of the insurance provider’s stock after selling 405 shares during the quarter. Allstate comprises about 2.7% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 9th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Allstate were worth $10,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC grew its holdings in shares of Allstate by 4.3% in the 2nd quarter. Accretive Wealth Partners LLC now owns 1,450 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 60 shares in the last quarter. Mezzasalma Advisors LLC raised its holdings in Allstate by 21.9% during the second quarter. Mezzasalma Advisors LLC now owns 13,546 shares of the insurance provider’s stock worth $2,727,000 after acquiring an additional 2,437 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in Allstate by 3.4% during the second quarter. Chicago Partners Investment Group LLC now owns 5,565 shares of the insurance provider’s stock valued at $1,100,000 after purchasing an additional 183 shares during the last quarter. International Assets Investment Management LLC bought a new position in Allstate in the second quarter valued at approximately $141,000. Finally, Gladwyn Financial Advisors Inc. acquired a new position in shares of Allstate during the 2nd quarter worth approximately $146,000. 76.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays reissued an “underweight” rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Morgan Stanley increased their price target on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $235.00 to $254.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. BMO Capital Markets raised their target price on shares of Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $234.60.

Allstate Stock Performance

NYSE ALL opened at $195.96 on Monday. The stock has a market cap of $51.64 billion, a PE 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 firm has a 50-day moving average of $205.61 and a 200-day moving average of $200.84. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.70.

Allstate (NYSE:ALL) last released 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. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the prior year, the firm earned $1.61 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

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.