M Holdings Securities Inc. Purchases 2,164 Shares of The Allstate Corporation $ALL

M Holdings Securities Inc. purchased a new position in The Allstate Corporation (NYSE:ALL) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,164 shares of the insurance provider’s stock, valued at approximately $480,000.

Other hedge funds have also recently modified their holdings of the company. Gables Capital Management Inc. bought a new position in shares of Allstate during the second quarter valued at about $26,000. Kelleher Financial Advisors purchased a new stake in shares of Allstate during the second quarter worth about $28,000. Allied Private Wealth LLC bought a new stake in shares of Allstate in the second quarter worth about $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Allstate in the first quarter worth about $30,000. Finally, Prudent Man Investment Management Inc. purchased a new position in Allstate during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALL. Piper Sandler lowered their price target on Allstate from $300.00 to $294.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group cut their price objective on Allstate from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Morgan Stanley boosted their target price on Allstate from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday. BMO Capital Markets boosted their target price on Allstate from $250.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Finally, Citigroup upped their target price on Allstate from $215.00 to $225.00 and gave the company a “sell” rating in a report on Friday, November 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $273.48.

Allstate Price Performance

Shares of NYSE ALL opened at $262.01 on Thursday. The Allstate Corporation has a 1 year low of $191.13 and a 1 year high of $281.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.37 and a quick ratio of 0.37. The company’s 50-day moving average is $245.92 and its 200 day moving average is $230.81. The stock has a market capitalization of $64.84 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.56 and a beta of 0.13.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $2.87. Allstate had a net margin of 16.57% and a return on equity of 38.37%. The company had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $15.87 billion. During the same period in the prior year, the firm earned $11.17 earnings per share. Allstate’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts expect that The Allstate Corporation will post 37.33 earnings per share for the current year.

Allstate Profile

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.