Forum Financial Management LP Buys 2,504 Shares of The Allstate Corporation $ALL

Forum Financial Management LP raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 14.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,257 shares of the insurance provider’s stock after acquiring an additional 2,504 shares during the quarter. Forum Financial Management LP’s holdings in Allstate were worth $4,078,000 at the end of the most recent reporting period.

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

Allstate Trading Up 0.5%

Shares of Allstate stock opened at $194.63 on Thursday. The stock has a market cap of $51.29 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.70 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 stock’s 50 day simple moving average is $204.82 and its 200-day simple moving average is $200.79. 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 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 EPS. Analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALL. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Cantor Fitzgerald upgraded Allstate to a “hold” rating in a research note on Wednesday, August 13th. Evercore ISI set a $233.00 price objective on Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. UBS Group lifted their price objective on Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Wolfe Research upgraded Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target 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.