3,040 Shares in The Allstate Corporation $ALL Acquired by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management LLC acquired 3,040 shares of The Allstate Corporation ($ALL), which is valued at approximately $612,000.
• The Allstate Corporation recently reported earnings per share of $5.94 for the last quarter, surpassing analysts' expectations of $3.20.
• Analysts have issued varying price targets for Allstate, with Raymond James setting a target at $260.00, while Barclays set theirs at $198.00, indicating a mixed outlook for the stock.

Smith Group Asset Management LLC purchased a new position in The Allstate Corporation (NYSE:ALL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,040 shares of the insurance provider's stock, valued at approximately $612,000.

Other hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC lifted its holdings in shares of Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after buying an additional 89 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Allstate in the first quarter worth $28,000. Hilltop National Bank purchased a new position in shares of Allstate in the second quarter worth $34,000. Meeder Asset Management Inc. lifted its holdings in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Allstate in the first quarter worth $43,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Down 0.2%

NYSE:ALL opened at $194.46 on Friday. 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 fifty day simple moving average of $204.54 and a 200-day simple moving average of $200.89. The company has a market cap of $51.24 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.71 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 - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. Analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Barclays restated an "underweight" rating and issued a $198.00 price target (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Roth Capital set a $230.00 target price on Allstate and gave the stock a "buy" rating in a research report on Friday, September 26th. Morgan Stanley lifted their target price on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on Allstate from $235.00 to $254.00 and gave the stock an "overweight" rating in a research report on Thursday, October 9th. 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.

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