TimesSquare Capital Management LLC Buys 15,650 Shares of The Allstate Co. (NYSE:ALL)

TimesSquare Capital Management LLC grew its stake in shares of The Allstate Co. (NYSE:ALL) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 425,978 shares of the insurance provider’s stock after buying an additional 15,650 shares during the quarter. Allstate makes up 1.2% of TimesSquare Capital Management LLC’s holdings, making the stock its 21st biggest holding. TimesSquare Capital Management LLC’s holdings in Allstate were worth $82,124,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of Allstate by 19.9% during the fourth quarter. Global Retirement Partners LLC now owns 3,206 shares of the insurance provider’s stock worth $618,000 after purchasing an additional 532 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of Allstate during the fourth quarter worth $1,200,000. Atlas Legacy Advisors LLC acquired a new position in shares of Allstate during the fourth quarter worth $3,123,000. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Allstate by 106.0% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,107 shares of the insurance provider’s stock worth $3,105,000 after purchasing an additional 8,289 shares during the period. Finally, Key Financial Inc lifted its holdings in shares of Allstate by 24.3% during the fourth quarter. Key Financial Inc now owns 838 shares of the insurance provider’s stock worth $162,000 after purchasing an additional 164 shares during the period. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group upped their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley upped their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $188.66 on Wednesday. The stock has a market capitalization of $49.96 billion, a P/E ratio of 11.10, 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. The firm’s 50 day moving average is $190.55 and its 200 day moving average is $190.03. The Allstate Co. has a 12 month low of $153.87 and a 12 month high of $209.88.

Allstate (NYSE:ALL) last posted its 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%. On average, sell-side analysts anticipate that The Allstate Co. will post 18.64 earnings per share for the current 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.