Cornerstone Wealth Group LLC Has $2.93 Million Position in The Allstate Corporation $ALL

Cornerstone Wealth Group LLC lowered its holdings in shares of The Allstate Corporation (NYSE:ALL) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 14,533 shares of the insurance provider’s stock after selling 626 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Allstate were worth $2,926,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Arlington Trust Co LLC raised 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 worth $25,000 after purchasing an additional 89 shares during the period. Hughes Financial Services LLC bought a new position in shares of Allstate during the first quarter worth about $28,000. Hilltop National Bank bought a new position in shares of Allstate during the second quarter worth about $34,000. Meeder Asset Management Inc. grew its holdings 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 worth $39,000 after buying an additional 99 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Allstate during the first quarter worth about $43,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Citigroup upgraded Allstate to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI set a $233.00 price objective on Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Roth Capital set a $230.00 price objective on Allstate and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. increased their price objective on Allstate from $235.00 to $254.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. 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 a consensus rating of “Moderate Buy” and an average price target of $234.50.

Allstate Stock Performance

NYSE:ALL opened at $205.80 on Tuesday. The stock has a market cap of $54.23 billion, a P/E ratio of 9.68, a PEG ratio of 0.78 and a beta of 0.38. The stock has a 50 day simple moving average of $206.12 and a 200 day simple moving average of $201.01. 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 1-year low of $176.00 and a 1-year high of $215.70.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.61 EPS. Research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share 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.