Mezzasalma Advisors LLC Has $2.73 Million Stock Holdings in The Allstate Corporation $ALL

Key Points

• Mezzasalma Advisors LLC increased its stock holdings in The Allstate Corporation by 21.9%, bringing its total investment to $2.73 million as of the second quarter.
• Allstate reported $5.94 earnings per share for the last quarter, significantly exceeding analysts' expectations of $3.20, while its revenue was $15.05 billion, falling short of the projected $16.59 billion.
• Brokerages have raised their price targets for Allstate, with UBS Group setting a new target at $250 and JPMorgan Chase increasing theirs to $254, indicating a positive outlook for the company.

Mezzasalma Advisors LLC raised its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,546 shares of the insurance provider's stock after buying an additional 2,437 shares during the period. Mezzasalma Advisors LLC's holdings in Allstate were worth $2,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arlington Trust Co LLC boosted its stake in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Allstate in the first quarter worth approximately $28,000. Hilltop National Bank bought a new position in shares of Allstate in the second quarter valued at approximately $34,000. Meeder Asset Management Inc. boosted its position in shares of Allstate by 113.8% during 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. bought a new stake in Allstate during the first quarter worth $43,000. 76.47% of the stock is owned by institutional investors.

Allstate Price Performance

ALL opened at $195.96 on Friday. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70. The firm has a 50-day moving average of $205.61 and a 200 day moving average of $200.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $51.64 billion, a P/E ratio of 9.21, a PEG ratio of 0.72 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 for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The company'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 year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALL. UBS Group raised their price objective on Allstate from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Allstate from $235.00 to $254.00 and gave the company an "overweight" rating in a report on Thursday, October 9th. BMO Capital Markets raised their price target on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Roth Capital set a $230.00 target price on shares of Allstate and gave the stock a "buy" rating in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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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