Benin Management CORP Has $6.28 Million Position in The Allstate Corporation $ALL

Key Points

• Benin Management CORP has reduced its stake in The Allstate Corporation by 4.3%, bringing its total holdings to approximately $6.28 million, representing 1.6% of its investment portfolio.
• Allstate reported $5.94 earnings per share for the most recent quarter, significantly exceeding analysts' expectations of $3.20, but its revenue of $15.05 billion fell short of the $16.59 billion forecast.
• Institutional investors own approximately 76.47% of Allstate's stock, indicating strong institutional confidence in the company.

Benin Management CORP decreased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,181 shares of the insurance provider's stock after selling 1,391 shares during the quarter. Allstate comprises approximately 1.6% of Benin Management CORP's investment portfolio, making the stock its 8th largest position. Benin Management CORP's holdings in Allstate were worth $6,277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Allstate by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after purchasing an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock worth $2,424,710,000 after purchasing an additional 2,374,684 shares during the last quarter. GQG Partners LLC raised its holdings in Allstate by 2.1% during the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock worth $912,288,000 after purchasing an additional 89,185 shares during the last quarter. Boston Partners grew its position in shares of Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after buying an additional 2,134,893 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Allstate by 27.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after acquiring an additional 497,982 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Trading Down 0.0%

ALL opened at $193.79 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70. The firm has a market capitalization of $51.06 billion, a PE ratio of 9.11, a P/E/G ratio of 0.71 and a beta of 0.38. The company's 50-day moving average is $205.11 and its 200 day moving average is $200.84.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the prior year, the business posted $1.61 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALL shares. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Roth Capital set a $230.00 target price on shares of Allstate and gave the company a "buy" rating in a research report on Friday, September 26th. Barclays reiterated an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. BMO Capital Markets boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Finally, Morgan Stanley boosted their target price on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.