CHICAGO TRUST Co NA Decreases Stock Position in The Allstate Corporation $ALL

Key Points

• CHICAGO TRUST Co NA reduced its stock position in The Allstate Corporation by 53% in the second quarter, holding 1,678 shares valued at approximately $338,000.
• Several institutional investors increased their stakes in Allstate, with Opal Wealth Advisors LLC lifting its position by 53.4%, now owning 1,803 shares valued at $363,000.
• Analysts are optimistic about Allstate's stock, with UBS Group and BMO Capital Markets raising their price targets to $235, indicating a consensus rating of "Moderate Buy" with an average target of $231.47.

CHICAGO TRUST Co NA lessened its position in The Allstate Corporation (NYSE:ALL - Free Report) by 53.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,678 shares of the insurance provider's stock after selling 1,892 shares during the quarter. CHICAGO TRUST Co NA's holdings in Allstate were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC lifted its position in shares of Allstate by 53.4% in the second quarter. Opal Wealth Advisors LLC now owns 1,803 shares of the insurance provider's stock valued at $363,000 after acquiring an additional 628 shares in the last quarter. Golden State Equity Partners acquired a new stake in shares of Allstate in the second quarter valued at approximately $684,000. IronOak Wealth LLC. acquired a new stake in shares of Allstate in the second quarter valued at approximately $1,429,000. GAMMA Investing LLC increased its holdings in shares of Allstate by 21.9% in the second quarter. GAMMA Investing LLC now owns 7,498 shares of the insurance provider's stock valued at $1,509,000 after purchasing an additional 1,346 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Allstate in the second quarter valued at approximately $518,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group increased their price target on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wolfe Research raised Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. BMO Capital Markets increased their price target on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Barclays reaffirmed an "underweight" rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average target price of $231.47.

Allstate Price Performance

ALL stock opened at $209.30 on Thursday. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $202.41 and a two-hundred day moving average of $200.67. The stock has a market cap of $55.15 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued 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 business had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is 18.81%.

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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