Wambolt & Associates LLC Purchases New Position in The Allstate Co. (NYSE:ALL)

Wambolt & Associates LLC purchased a new stake in The Allstate Co. (NYSE:ALL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,522 shares of the insurance provider’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of The Allstate by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 24,914,055 shares of the insurance provider’s stock worth $3,249,789,000 after buying an additional 429,981 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of The Allstate by 0.9% during the 1st quarter. Ameriprise Financial Inc. now owns 10,486,227 shares of the insurance provider’s stock worth $1,204,992,000 after buying an additional 96,232 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of The Allstate by 11.6% during the 2nd quarter. Geode Capital Management LLC now owns 5,727,653 shares of the insurance provider’s stock worth $745,317,000 after purchasing an additional 597,373 shares during the last quarter. Deutsche Bank AG grew its stake in The Allstate by 23.1% in the 2nd quarter. Deutsche Bank AG now owns 5,042,414 shares of the insurance provider’s stock valued at $657,733,000 after buying an additional 944,919 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in The Allstate by 18.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 4,759,031 shares of the insurance provider’s stock valued at $546,813,000 after buying an additional 728,870 shares in the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.

NYSE ALL opened at $125.70 on Thursday. The Allstate Co. has a 52-week low of $86.51 and a 52-week high of $140.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market capitalization of $37.17 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.09 and a beta of 0.86. The company has a fifty day moving average of $131.92 and a 200-day moving average of $130.14.

The Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, August 3rd. The insurance provider reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.17 by $0.62. The company had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.57 billion. The Allstate had a net margin of 8.27% and a return on equity of 22.27%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. As a group, analysts forecast that The Allstate Co. will post 16.02 EPS for the current fiscal year.

The Allstate announced that its board has authorized a stock repurchase program on Wednesday, August 4th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 13% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

ALL has been the subject of a number of recent research reports. reduced their price objective on shares of The Allstate from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, June 21st. Raymond James reiterated a “buy” rating and issued a $150.00 price objective on shares of The Allstate in a research note on Friday, September 17th. Wolfe Research started coverage on shares of The Allstate in a research note on Monday, August 16th. They issued a “peer perform” rating and a $130.00 price objective for the company. UBS Group boosted their price target on shares of The Allstate from $118.00 to $139.00 and gave the company a “neutral” rating in a research report on Friday, July 9th. Finally, Wells Fargo & Company boosted their price target on shares of The Allstate from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, July 9th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $140.62.

The Allstate Profile

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

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Institutional Ownership by Quarter for The Allstate (NYSE:ALL)

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