GDS Wealth Management Boosts Stock Holdings in The Allstate Corporation $ALL

GDS Wealth Management raised its holdings in The Allstate Corporation (NYSE:ALL) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,655 shares of the insurance provider’s stock after purchasing an additional 1,303 shares during the quarter. Allstate accounts for about 1.4% of GDS Wealth Management’s holdings, making the stock its 24th biggest position. GDS Wealth Management’s holdings in Allstate were worth $18,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Parkside Financial Bank & Trust boosted its stake in shares of Allstate by 4.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after buying an additional 53 shares in the last quarter. Linscomb Wealth Inc. raised its position in Allstate by 1.3% in the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after acquiring an additional 54 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Allstate by 0.7% in the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock valued at $1,740,000 after acquiring an additional 55 shares during the period. Cooper Financial Group boosted its position in shares of Allstate by 5.5% during 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, D Orazio & Associates Inc. grew its stake in shares of Allstate by 5.2% during the 2nd quarter. D Orazio & Associates Inc. now owns 1,115 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALL. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Evercore ISI set a $233.00 price target on shares of Allstate and gave the company an “in-line” rating in a research report on Wednesday, October 1st. UBS Group upped their price target on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Wells Fargo & Company raised their price objective on Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Finally, Cantor Fitzgerald upgraded Allstate to a “hold” rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $237.64.

Allstate Stock Performance

Allstate stock opened at $209.89 on Thursday. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $202.92 and a 200 day moving average price of $201.91. The firm has a market capitalization of $54.92 billion, a P/E ratio of 9.87, a PEG ratio of 0.69 and a beta of 0.35.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the firm posted $3.91 earnings per share. Allstate’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 1,400 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $215.02, for a total transaction of $301,028.00. Following the completion of the sale, the insider owned 101,031 shares of the company’s stock, valued at approximately $21,723,685.62. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

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.