Ethic Inc. Acquires 1,643 Shares of The Allstate Corporation $ALL

Key Points

• Ethic Inc. has increased its stake in The Allstate Corporation by 3.9%, acquiring an additional 1,643 shares in the second quarter, bringing its total holdings to 43,667 shares worth approximately $8.5 million.
• Allstate reported a strong earnings performance with an EPS of $5.94, significantly exceeding analyst estimates of $3.20, despite revenue falling short of expectations at $15.05 billion.
• Recent analyst ratings for Allstate show a positive outlook, with a majority issuing a buy or strong-buy rating and an average target price of $234.60.

Ethic Inc. increased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,667 shares of the insurance provider's stock after purchasing an additional 1,643 shares during the quarter. Ethic Inc.'s holdings in Allstate were worth $8,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Allstate by 30.3% during the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock valued at $2,352,000 after purchasing an additional 2,643 shares in the last quarter. Atlas Capital Advisors Inc. lifted its holdings in Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock valued at $1,390,000 after acquiring an additional 4,454 shares during the period. Richard Bernstein Advisors LLC bought a new position in Allstate in the first quarter valued at about $3,341,000. Dock Street Asset Management Inc. bought a new position in Allstate in the first quarter valued at about $207,000. Finally, Zurich Insurance Group Ltd FI bought a new position in Allstate in the first quarter valued at about $22,405,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

NYSE:ALL opened at $194.63 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The stock has a 50-day moving average price of $204.82 and a 200 day moving average price of $200.79. The stock has a market capitalization of $51.29 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.70 and a beta of 0.38.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter last year, the business posted $1.61 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Analyst Ratings Changes

ALL has been the topic of a number of recent research reports. Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Barclays restated an "underweight" rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Jefferies Financial Group upped their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, Morgan Stanley upped their price target on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.60.

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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