Easterly Investment Partners LLC Has $5.93 Million Stock Position in The Allstate Corporation $ALL

Key Points

• Easterly Investment Partners LLC increased its stake in The Allstate Corporation by 89.4%, owning 29,447 shares valued at approximately $5.93 million as of its latest SEC filing.
• Several institutional investors have significantly increased their positions in Allstate, with 76.47% of the stock currently owned by institutional investors and hedge funds.
• Analysts have set new price targets for Allstate, with JPMorgan raising its target from $235 to $254, while the consensus target price is now $234.50.

Easterly Investment Partners LLC increased its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 89.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,447 shares of the insurance provider's stock after buying an additional 13,903 shares during the quarter. Easterly Investment Partners LLC's holdings in Allstate were worth $5,928,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC grew its position in shares of Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 89 shares during the period. Hughes Financial Services LLC acquired a new position in Allstate during the first quarter worth approximately $28,000. Hilltop National Bank bought a new stake in Allstate in the second quarter valued at approximately $34,000. Meeder Asset Management Inc. lifted its position in shares of Allstate by 113.8% in 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. acquired a new position in shares of Allstate during the 1st quarter worth approximately $43,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on ALL. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $235.00 to $254.00 and gave the company an "overweight" rating in a report on Thursday, October 9th. Evercore ISI set a $233.00 price target on shares of Allstate and gave the company an "in-line" rating in a report on Wednesday, October 1st. Wolfe Research upgraded Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Morgan Stanley increased their price objective on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Roth Capital set a $230.00 price target on shares of Allstate and gave the company a "buy" rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $234.50.

Allstate Stock Down 2.8%

ALL stock opened at $194.86 on Friday. The company has a market cap of $51.35 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.38. 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 Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The business has a 50-day simple moving average of $205.83 and a 200 day simple moving average of $200.98.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The company 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 business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 EPS. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal 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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