Spire Wealth Management Sells 6,659 Shares of The Allstate Corporation $ALL

Spire Wealth Management lessened its stake in shares of The Allstate Corporation (NYSE:ALL) by 45.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,153 shares of the insurance provider’s stock after selling 6,659 shares during the period. Spire Wealth Management’s holdings in Allstate were worth $1,620,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Arkadios Wealth Advisors grew its holdings in Allstate by 8.4% during the second quarter. Arkadios Wealth Advisors now owns 5,370 shares of the insurance provider’s stock valued at $1,081,000 after purchasing an additional 415 shares during the period. Howard Capital Management Inc. grew its holdings in Allstate by 11.6% during the second quarter. Howard Capital Management Inc. now owns 1,685 shares of the insurance provider’s stock valued at $341,000 after purchasing an additional 175 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Allstate by 577.1% during the second quarter. Y Intercept Hong Kong Ltd now owns 68,107 shares of the insurance provider’s stock valued at $13,711,000 after purchasing an additional 58,048 shares during the period. Transcend Capital Advisors LLC grew its holdings in Allstate by 4.0% during the second quarter. Transcend Capital Advisors LLC now owns 6,776 shares of the insurance provider’s stock valued at $1,364,000 after purchasing an additional 259 shares during the period. Finally, Convergence Investment Partners LLC bought a new stake in Allstate during the second quarter valued at about $690,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE ALL opened at $191.71 on Friday. The firm has a market cap of $50.52 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 0.69 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 business has a 50-day moving average price of $202.56 and a 200-day moving average price of $201.02. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.70.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.61 earnings per share. As a group, equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALL. Morgan Stanley boosted their price target on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wall Street Zen raised Allstate from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. Evercore ISI set a $233.00 price target on Allstate and gave the company an “in-line” rating in a report on Wednesday, October 1st. Wolfe Research raised Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, Citigroup raised Allstate to a “hold” rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $234.27.

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.