S Bank Fund Management Ltd Makes New Investment in The Allstate Corporation $ALL

Key Points

• S Bank Fund Management Ltd has acquired 31,233 shares of The Allstate Corporation, valued at approximately $6,288,000, making it the fund's 27th largest position.
• Wall Street has shown optimism towards Allstate with multiple analysts raising their target prices, including UBS raising it to $250.00 and Raymond James to $260.00, with a majority rating the stock as a "buy."
• Despite a recent 4.2% decline in stock price, Allstate reported earnings of $5.94 EPS in its latest quarterly results, exceeding analysts' expectations significantly.

S Bank Fund Management Ltd acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 31,233 shares of the insurance provider's stock, valued at approximately $6,288,000. Allstate makes up 0.9% of S Bank Fund Management Ltd's holdings, making the stock its 27th largest position.

Other large investors also recently bought and sold shares of the company. Arlington Trust Co LLC boosted its holdings in shares of Allstate by 261.8% during the 2nd 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 acquired a new position in shares of Allstate during the 1st quarter worth approximately $28,000. Hilltop National Bank acquired a new position in shares of Allstate during the 2nd quarter worth approximately $34,000. Meeder Asset Management Inc. boosted its holdings in shares of Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. UBS Group boosted their target price on Allstate from $235.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Jefferies Financial Group upped their price objective on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Morgan Stanley upped their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. 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 given a Sell rating to the stock. According to MarketBeat, Allstate currently has an average rating of "Moderate Buy" and an average price target of $234.50.

Allstate Stock Down 4.2%

NYSE:ALL opened at $200.67 on Thursday. 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 stock's fifty day moving average is $206.03 and its two-hundred day moving average is $201.06. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The stock has a market capitalization of $52.88 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the prior year, the firm earned $1.61 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

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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