TimesSquare Capital Management LLC Sells 15,050 Shares of The Allstate Corporation $ALL

TimesSquare Capital Management LLC decreased its stake in The Allstate Corporation (NYSE:ALL) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 356,253 shares of the insurance provider’s stock after selling 15,050 shares during the period. TimesSquare Capital Management LLC’s holdings in Allstate were worth $71,717,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its holdings in shares of Allstate by 4.7% during the second 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 in the last quarter. Linscomb Wealth Inc. grew its position in Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after acquiring an additional 54 shares during the last quarter. Ancora Advisors LLC grew its position in Allstate by 0.7% during the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after acquiring an additional 55 shares during the last quarter. Cooper Financial Group increased its holdings in Allstate by 5.5% during the 2nd 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 in the last quarter. Finally, Bank of Hawaii raised its position in Allstate by 1.4% in the 1st quarter. Bank of Hawaii now owns 4,046 shares of the insurance provider’s stock valued at $838,000 after purchasing an additional 56 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 1.7%

Shares of NYSE:ALL opened at $207.28 on Wednesday. The company has a 50 day moving average of $201.95 and a 200-day moving average of $201.40. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.70. The stock has a market cap of $54.24 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 EPS. On average, sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALL shares. Cantor Fitzgerald upgraded Allstate to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Citigroup upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price target on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.13.

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.