Avidian Wealth Enterprises LLC Lowers Position in The Allstate Corporation $ALL

Avidian Wealth Enterprises LLC lessened its position in The Allstate Corporation (NYSE:ALL) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,486 shares of the insurance provider’s stock after selling 66 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Allstate were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Allstate by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider’s stock worth $6,791,914,000 after purchasing an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Allstate by 25.4% in the first 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 buying an additional 2,374,684 shares in the last quarter. GQG Partners LLC grew its position in Allstate by 2.1% during the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock valued at $912,288,000 after acquiring an additional 89,185 shares during the last quarter. Boston Partners raised 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 acquiring an additional 2,134,893 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised 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 acquiring an additional 497,982 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research reports. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Citigroup upgraded shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Jefferies Financial Group raised their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. 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. Finally, Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.60.

Allstate Stock Down 0.0%

Shares of Allstate stock opened at $193.79 on Wednesday. The firm has a market cap of $51.06 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 0.71 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70. The company has a 50-day moving average of $205.11 and a 200 day moving average of $200.84.

Allstate (NYSE:ALL) last released its quarterly earnings data 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 company had revenue of $15.05 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%.Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.61 EPS. As a group, 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.