Envestnet Portfolio Solutions Inc. Purchases 5,739 Shares of The Allstate Corporation $ALL

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in The Allstate Corporation by 12.2%, purchasing an additional 5,739 shares during the second quarter.
• The Allstate Corporation reported $5.94 earnings per share (EPS) for the last quarter, exceeding estimates by $2.74, while revenue was below expectations at $15.05 billion.
• Analysts have mostly rated Allstate positively, with two Strong Buy ratings and a consensus price target increase to $234.50.

Envestnet Portfolio Solutions Inc. raised its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,846 shares of the insurance provider's stock after purchasing an additional 5,739 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Allstate were worth $10,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Allstate by 25.4% in the first 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 acquiring an additional 2,374,684 shares during the period. Boston Partners boosted its holdings in shares of Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after acquiring an additional 2,134,893 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Allstate by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after acquiring an additional 497,982 shares during the period. Strs Ohio bought a new position in shares of Allstate in the first quarter worth $84,408,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Allstate by 20.3% in the first quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider's stock worth $417,244,000 after acquiring an additional 340,150 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Price Performance

NYSE:ALL opened at $205.80 on Tuesday. The firm has a market capitalization of $54.23 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 0.78 and a beta of 0.38. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.70. The stock has a fifty day moving average of $206.12 and a 200 day moving average of $201.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

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 (EPS) 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 analyst estimates of $16.59 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BMO Capital Markets raised their price target on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price target (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Roth Capital set a $230.00 price target on Allstate and gave the stock a "buy" rating in a report on Friday, September 26th. Jefferies Financial Group raised their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Wolfe Research raised Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.50.

Allstate Company 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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