FourThought Financial Partners LLC Takes Position in The Allstate Co. (NYSE:ALL)

FourThought Financial Partners LLC bought a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,889 shares of the insurance provider’s stock, valued at approximately $2,485,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALL. Allworth Financial LP lifted its position in Allstate by 1.5% during the 3rd quarter. Allworth Financial LP now owns 14,584 shares of the insurance provider’s stock worth $2,766,000 after buying an additional 213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Allstate by 24.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,397 shares of the insurance provider’s stock worth $3,089,000 after purchasing an additional 3,200 shares during the period. Arkadios Wealth Advisors grew its stake in Allstate by 15.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 5,228 shares of the insurance provider’s stock valued at $991,000 after buying an additional 701 shares during the last quarter. PFG Investments LLC grew its position in shares of Allstate by 4.1% in the third quarter. PFG Investments LLC now owns 5,805 shares of the insurance provider’s stock valued at $1,101,000 after purchasing an additional 228 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Allstate by 39.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 97,170 shares of the insurance provider’s stock worth $18,428,000 after buying an additional 27,253 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the 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 completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALL. The Goldman Sachs Group raised their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays dropped their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Piper Sandler upped their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Trading Up 1.6 %

Shares of Allstate stock opened at $188.60 on Tuesday. The Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88. 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 company has a market capitalization of $49.94 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The stock has a fifty day simple moving average of $190.12 and a 200 day simple moving average of $190.56.

Allstate (NYSE:ALL) last announced its quarterly earnings data 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%. On average, sell-side analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

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.