KBC Group NV Sells 2,928 Shares of The Allstate Corporation $ALL

KBC Group NV lessened its stake in The Allstate Corporation (NYSE:ALL) by 1.3% in the second quarter, HoldingsChannel reports. The firm owned 216,804 shares of the insurance provider’s stock after selling 2,928 shares during the period. KBC Group NV’s holdings in Allstate were worth $43,645,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust grew its position in shares of Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after buying an additional 53 shares during the period. Linscomb Wealth Inc. grew its holdings in Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock valued at $845,000 after purchasing an additional 54 shares during the period. Ancora Advisors LLC grew its holdings in Allstate by 0.7% during the first 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 grew its holdings in Allstate by 5.5% during the second quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider’s stock valued at $213,000 after purchasing an additional 55 shares during the period. Finally, Bank of Hawaii raised its holdings in Allstate by 1.4% in the first 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. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI set a $233.00 target price on Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Morgan Stanley boosted their price objective on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.13.

Allstate Price Performance

Shares of ALL opened at $209.16 on Thursday. The company has a 50 day moving average of $202.04 and a 200-day moving average of $201.45. 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 $54.73 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.69 and a beta of 0.35. 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 earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating 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 business had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the firm earned $3.91 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that The Allstate Corporation will post 18.74 EPS 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.