Allspring Global Investments Holdings LLC Sells 1,736,146 Shares of The Allstate Corporation $ALL

Allspring Global Investments Holdings LLC decreased its position in The Allstate Corporation (NYSE:ALL) by 98.2% during the 2nd quarter, Holdings Channel reports. The firm owned 31,016 shares of the insurance provider’s stock after selling 1,736,146 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Allstate were worth $6,208,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock valued at $2,352,000 after acquiring an additional 2,643 shares during the last quarter. Atlas Capital Advisors Inc. raised its stake in shares of Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock valued at $1,390,000 after acquiring an additional 4,454 shares during the last quarter. Richard Bernstein Advisors LLC bought a new position in shares of Allstate in the first quarter valued at approximately $3,341,000. Dock Street Asset Management Inc. bought a new position in shares of Allstate in the first quarter valued at approximately $207,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Allstate in the first quarter valued at approximately $22,405,000. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALL shares. BMO Capital Markets lifted their target price on shares of Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Barclays restated an “underweight” rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Citigroup upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $235.00 to $254.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Two research 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 stock. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $234.60.

Allstate Price Performance

Shares of ALL stock opened at $195.96 on Monday. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The firm has a market capitalization of $51.64 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.38. 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 firm has a fifty day moving average of $205.61 and a 200-day moving average of $200.84.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. On average, equities research analysts forecast 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.