The Allstate Co. (NYSE:ALL) Stake Raised by Avestar Capital LLC

Avestar Capital LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 19.5% during the 4th quarter, HoldingsChannel reports. The fund owned 1,275 shares of the insurance provider’s stock after purchasing an additional 208 shares during the period. Avestar Capital LLC’s holdings in Allstate were worth $247,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Allstate by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after buying an additional 28,584 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after acquiring an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Allstate by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock worth $11,297,000 after acquiring an additional 3,800 shares in the last quarter. Artemis Investment Management LLP boosted its position in Allstate by 33.3% during the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after purchasing an additional 100,311 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in Allstate by 38.0% in the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after purchasing an additional 2,888 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Down 2.7 %

Shares of Allstate stock opened at $187.53 on Friday. The Allstate Co. has a 1 year low of $153.87 and a 1 year high of $209.88. The company’s fifty day simple moving average is $190.91 and its 200-day simple moving average is $189.63. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.47 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, sell-side analysts expect that The Allstate Co. will post 18.64 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. Piper Sandler boosted their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. UBS Group increased their target price on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Barclays cut their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% 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.