Pinnacle Financial Partners Inc Increases Stake in The Allstate Co. (NYSE:ALL)

Pinnacle Financial Partners Inc grew its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,252 shares of the insurance provider’s stock after buying an additional 317 shares during the period. Pinnacle Financial Partners Inc’s holdings in Allstate were worth $2,935,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ALL. Strategic Financial Concepts LLC increased its stake in shares of Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after buying an additional 1,111,748 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Allstate during the third quarter valued at approximately $77,819,000. Los Angeles Capital Management LLC increased its stake in shares of Allstate by 688.4% during the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock valued at $87,292,000 after buying an additional 401,901 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Allstate by 291.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock valued at $67,528,000 after buying an additional 265,213 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods lifted their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. UBS Group lifted their price target on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, 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 research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Down 1.9 %

Allstate stock opened at $185.51 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $190.25 and its two-hundred day simple moving average is $190.29. The Allstate Co. has a 12 month low of $153.87 and a 12 month high of $209.88. The company has a market capitalization of $49.12 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.03 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, equities analysts predict that The Allstate Co. will post 18.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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.