Envestnet Asset Management Inc. Purchases 9,544 Shares of The Allstate Corporation $ALL

Envestnet Asset Management Inc. lifted its position in shares of The Allstate Corporation (NYSE:ALL) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 257,473 shares of the insurance provider’s stock after purchasing an additional 9,544 shares during the period. Envestnet Asset Management Inc.’s holdings in Allstate were worth $51,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ALL. Rehmann Capital Advisory Group raised its holdings in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after acquiring an additional 51 shares during the period. Linscomb Wealth Inc. grew its position in shares of Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after purchasing an additional 54 shares in the last quarter. Ancora Advisors LLC raised its stake in Allstate by 0.7% during the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock valued at $1,740,000 after purchasing an additional 55 shares during the period. Cooper Financial Group lifted its holdings in Allstate by 5.5% in the 2nd quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider’s stock worth $213,000 after purchasing an additional 55 shares in the last quarter. Finally, Bank of Hawaii boosted its stake in Allstate by 1.4% in the 1st quarter. Bank of Hawaii now owns 4,046 shares of the insurance provider’s stock worth $838,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Allstate from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a report on Wednesday, October 8th. Wolfe Research upgraded shares of Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. raised their price objective on Allstate from $235.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Cantor Fitzgerald raised Allstate to a “hold” rating in a report on Wednesday, August 13th. Two 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.27.

Allstate Stock Performance

Shares of NYSE:ALL opened at $191.71 on Friday. The firm has a fifty day simple moving average of $202.56 and a two-hundred day simple moving average of $201.02. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. 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 stock has a market capitalization of $50.52 billion, a P/E ratio of 9.01, a PEG ratio of 0.69 and a beta of 0.38.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 EPS. On average, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

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.