Allspring Global Investments Holdings LLC Has $6.21 Million Stock Holdings in The Allstate Corporation $ALL

Allspring Global Investments Holdings LLC cut its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 98.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,016 shares of the insurance provider's stock after selling 1,736,146 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Allstate were worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ALL. Price T Rowe Associates Inc. MD raised its holdings in Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after buying an additional 2,374,684 shares in the last quarter. Boston Partners raised its holdings in Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after buying an additional 2,134,893 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Allstate by 27.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after buying an additional 497,982 shares in the last quarter. Strs Ohio bought a new position in Allstate during the first quarter valued at about $84,408,000. Finally, AQR Capital Management LLC raised its holdings in Allstate by 20.3% during the first quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider's stock valued at $417,244,000 after buying an additional 340,150 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ALL shares. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Wolfe Research raised Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Allstate in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.60.

Allstate Stock Up 0.6%

NYSE ALL opened at $195.96 on Monday. 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 simple moving average of $205.61 and a 200 day simple moving average of $200.84. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.70. The stock has a market cap of $51.64 billion, a PE ratio of 9.21, a PEG ratio of 0.72 and a beta of 0.38.

Allstate (NYSE:ALL - Get Free Report) last released its 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 business had revenue of $15.05 billion during 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 firm's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. On average, research analysts forecast that The Allstate Corporation will post 18.74 EPS 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.

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