R Squared Ltd Makes New Investment in The Allstate Corporation $ALL

R Squared Ltd acquired a new stake in The Allstate Corporation (NYSE:ALL) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 3,124 shares of the insurance provider’s stock, valued at approximately $629,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its holdings 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 buying an additional 89 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Allstate during the first quarter valued at approximately $28,000. Hilltop National Bank purchased a new stake in Allstate in the 2nd quarter worth approximately $34,000. Meeder Asset Management Inc. raised its holdings in Allstate by 113.8% in the 1st 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 during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Allstate during the 1st quarter worth $43,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Down 0.2%

Shares of NYSE:ALL opened at $194.46 on Friday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70. The stock has a 50-day simple moving average of $204.54 and a 200-day simple moving average of $200.89. 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 market capitalization of $51.24 billion, a P/E ratio of 9.14, a PEG ratio of 0.71 and a beta of 0.38.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group lifted their price objective on Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Barclays restated an “underweight” rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. BMO Capital Markets upped their price objective 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. Wolfe Research raised shares of Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.60.

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.