MGB Wealth Management LLC Acquires New Stake in The Allstate Co. (NYSE:ALL)

MGB Wealth Management LLC bought a new stake in The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,398 shares of the insurance provider’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. FSA Wealth Management LLC acquired a new position in shares of Allstate in the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in Allstate in the 3rd quarter valued at $29,000. Peoples Bank KS purchased a new position in shares of Allstate during the 4th quarter worth $49,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Allstate during the 4th quarter worth $53,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALL shares. Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. The Goldman Sachs Group upped their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets raised their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Bank of America upped their price target on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction dated 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 transaction, the chief financial officer now 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 SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Allstate Stock Down 0.0 %

NYSE ALL opened at $189.38 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a fifty-two week low of $153.87 and a fifty-two week high of $209.88. The business has a 50 day moving average price of $191.77 and a two-hundred day moving average price of $189.48. The stock has a market cap of $50.15 billion, a PE ratio of 11.15, a P/E/G ratio of 1.47 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating 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 predict that The Allstate Co. will post 18.64 EPS for the current fiscal year.

Allstate Company Profile

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.