Wambolt & Associates LLC Makes New $202,000 Investment in The Allstate Co. (NYSE:ALL)

Wambolt & Associates LLC bought a new position in The Allstate Co. (NYSE:ALL) in the 2nd quarter, Holdings Channel reports. The firm bought 1,522 shares of the insurance provider’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Wisconsin Investment Board grew its position in shares of The Allstate by 2.8% in the 1st quarter. State of Wisconsin Investment Board now owns 479,495 shares of the insurance provider’s stock worth $55,094,000 after buying an additional 12,884 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in The Allstate by 613.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 183,394 shares of the insurance provider’s stock worth $21,072,000 after purchasing an additional 157,680 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in The Allstate by 4.7% during the 2nd quarter. New Mexico Educational Retirement Board now owns 20,234 shares of the insurance provider’s stock valued at $2,639,000 after acquiring an additional 900 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of The Allstate by 10.2% in the 2nd quarter. Rafferty Asset Management LLC now owns 169,379 shares of the insurance provider’s stock valued at $22,094,000 after purchasing an additional 15,695 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of The Allstate by 12.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 56,124 shares of the insurance provider’s stock worth $7,321,000 after buying an additional 6,190 shares in the last quarter. Institutional investors own 75.00% of the company’s stock.

The Allstate stock opened at $125.70 on Thursday. The Allstate Co. has a 52-week low of $86.51 and a 52-week high of $140.00. The firm has a fifty day moving average of $131.92 and a 200-day moving average of $130.14. The firm has a market capitalization of $37.17 billion, a P/E ratio of 9.91, a PEG ratio of 1.09 and a beta of 0.86. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

The Allstate (NYSE:ALL) last released its quarterly earnings data on Tuesday, August 3rd. The insurance provider reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.17 by $0.62. The Allstate had a net margin of 8.27% and a return on equity of 22.27%. The company had revenue of $10.44 billion during the quarter, compared to analyst estimates of $10.57 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, research analysts expect that The Allstate Co. will post 16.02 EPS for the current fiscal year.

The Allstate declared that its board has initiated a share buyback program on Wednesday, August 4th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 13% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

A number of research analysts have commented on ALL shares. Raymond James reaffirmed a “buy” rating and issued a $150.00 target price on shares of The Allstate in a research report on Friday, September 17th. Morgan Stanley raised their target price on shares of The Allstate from $140.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, August 16th. UBS Group increased their price target on shares of The Allstate from $118.00 to $139.00 and gave the company a “neutral” rating in a research note on Friday, July 9th. Barclays raised their target price on shares of The Allstate from $144.00 to $147.00 and gave the stock an “overweight” rating in a research report on Friday, August 6th. Finally, lowered their target price on shares of The Allstate from $142.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, June 21st. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, The Allstate currently has an average rating of “Hold” and an average price target of $140.62.

About The Allstate

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

Further Reading: Institutional Investors

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Institutional Ownership by Quarter for The Allstate (NYSE:ALL)

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