Atria Wealth Solutions Inc. Sells 1,635 Shares of The Allstate Corporation $ALL

Key Points

• Atria Wealth Solutions Inc. reduced its stake in The Allstate Corporation by 34.3%, selling 1,635 shares to hold a total of 3,130 shares valued at $627,000 as of its latest SEC filing.
• Allstate's recent quarterly earnings exceeded expectations, reporting $5.94 earnings per share compared to an analyst estimate of $3.20, with a net margin of 8.79%.
• Research firms have raised their price targets for Allstate, with UBS Group setting a target at $250.00 and Morgan Stanley at $245.00, reflecting a positive outlook from analysts.

Atria Wealth Solutions Inc. cut its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 34.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,130 shares of the insurance provider's stock after selling 1,635 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Allstate were worth $627,000 as of its most recent SEC filing.

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

Allstate Trading Up 0.6%

Shares of NYSE:ALL opened at $195.96 on Friday. The Allstate Corporation has a 52-week low of $176.00 and a 52-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 stock has a market capitalization of $51.64 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.72 and a beta of 0.38. The stock's 50-day simple moving average is $205.61 and its two-hundred day simple moving average is $200.87.

Allstate (NYSE:ALL - Get Free Report) last posted 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. Allstate had a return on equity of 28.74% and a net margin of 8.79%.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 previous year, the firm earned $1.61 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on ALL. UBS Group increased their price objective on Allstate from $235.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citigroup raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company set a $202.00 target price on Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Wolfe Research raised Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.60.

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.

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