Simmons Bank Cuts Position in The Allstate Corporation $ALL

Simmons Bank cut its holdings in The Allstate Corporation (NYSE:ALL) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,327 shares of the insurance provider’s stock after selling 498 shares during the quarter. Simmons Bank’s holdings in Allstate were worth $1,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Allstate by 25.4% in the 1st 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 in the last quarter. Boston Partners increased its stake in shares of Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock worth $512,627,000 after purchasing an additional 2,134,893 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Allstate by 27.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock worth $482,073,000 after purchasing an additional 497,982 shares in the last quarter. Strs Ohio purchased a new stake in shares of Allstate during the first quarter worth about $84,408,000. Finally, AQR Capital Management LLC increased its stake in Allstate by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider’s stock worth $417,244,000 after buying an additional 340,150 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Roth Capital set a $230.00 price objective on Allstate and gave the stock a “buy” rating in a research note on Friday, September 26th. Wall Street Zen upgraded Allstate from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Jefferies Financial Group upped their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 target price (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Allstate from $235.00 to $254.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.27.

Allstate Trading Down 0.2%

Shares of Allstate stock opened at $194.92 on Thursday. The firm has a market capitalization of $51.36 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.69 and a beta of 0.35. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70. 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 stock has a 50 day moving average of $202.01 and a 200 day moving average of $201.05.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.91 EPS. As a group, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

About Allstate

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.