Clune & Associates LTD. Makes New Investment in The Allstate Corporation $ALL

Key Points

• Clune & Associates LTD. acquired 1,370 shares of The Allstate Corporation, valued at approximately $276,000, reflecting growing interest among institutional investors in the insurance company.
• Allstate reported $5.94 earnings per share for the last quarter, significantly exceeding the estimated $3.20, with a year-over-year revenue increase of 5.8% despite falling short of consensus estimates.
• Analysts have varying ratings for Allstate, with Barclays setting a price target at $198.00 while Raymond James posits a target of $260.00, indicating mixed outlooks on the stock's performance.

Clune & Associates LTD. acquired a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,370 shares of the insurance provider's stock, valued at approximately $276,000.

Several other hedge funds have also modified their holdings of ALL. Arlington Trust Co LLC increased its position in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Allstate during the 1st quarter valued at $28,000. Hilltop National Bank acquired a new stake in shares of Allstate during the 2nd quarter worth $34,000. Meeder Asset Management Inc. raised its position in shares of Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new position in Allstate in the first quarter valued at $43,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of ALL stock opened at $193.83 on Tuesday. 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 company's fifty day moving average price is $205.36 and its two-hundred day moving average price is $200.89. The firm has a market capitalization of $51.08 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.72 and a beta of 0.38. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $215.70.

Allstate (NYSE:ALL - Get Free Report) last announced 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. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the firm earned $1.61 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays restated an "underweight" rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Raymond James Financial reissued a "strong-buy" rating and set a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $235.00 to $254.00 and gave the stock an "overweight" rating in a research note on Thursday, October 9th. Jefferies Financial Group lifted their target price on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Citigroup upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.60.

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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