VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $13.95 Million Investment in The Allstate Corporation $ALL

Key Points

• Virginia Retirement Systems recently invested approximately $13.95 million in The Allstate Corporation, acquiring 69,300 shares during the second quarter.
• Allstate reported impressive quarterly earnings, with an earnings per share (EPS) of $5.94, significantly exceeding analysts' expectations of $3.20.
• The stock has received multiple analyst upgrades, with consensus ratings indicating a Moderate Buy and an average price target of $234.60.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 69,300 shares of the insurance provider's stock, valued at approximately $13,951,000.

Other hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC increased its position in shares of Allstate by 261.8% during the second 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 in the last quarter. Hughes Financial Services LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $28,000. Hilltop National Bank bought a new stake in shares of Allstate during the second quarter valued at approximately $34,000. Meeder Asset Management Inc. increased 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 acquiring an additional 99 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Allstate during the first quarter valued at approximately $43,000. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 0.6%

NYSE:ALL opened at $195.96 on Monday. 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 company has a market cap of $51.64 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.38. The company has a 50 day simple moving average of $205.61 and a two-hundred day simple moving average of $200.84.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALL has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. UBS Group raised their price target on shares of Allstate from $235.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. 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. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Finally, Wolfe Research raised shares of Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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