Los Angeles Capital Management LLC Sells 98,400 Shares of The Allstate Corporation $ALL

Los Angeles Capital Management LLC lowered its stake in The Allstate Corporation (NYSE:ALL) by 20.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 391,394 shares of the insurance provider’s stock after selling 98,400 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Allstate were worth $78,792,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ALL. Arlington Trust Co LLC boosted its stake in shares of Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Allstate in the first quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 126 shares during the period. Hilltop National Bank purchased a new stake in shares of Allstate during the 2nd quarter valued at about $34,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Allstate by 113.8% in 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 period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALL. JPMorgan Chase & Co. upped their price objective on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays reissued an “underweight” rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Jefferies Financial Group upped their price objective on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Wells Fargo & Company lifted their target price on Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Wolfe Research upgraded Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.53.

Allstate Trading Up 2.2%

ALL stock opened at $202.29 on Friday. The firm has a fifty day moving average price of $201.86 and a 200 day moving average price of $201.14. 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 market cap of $53.30 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

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