Wealthspire Advisors LLC Cuts Position in The Allstate Co. (NYSE:ALL)

Wealthspire Advisors LLC lowered its holdings in shares of The Allstate Co. (NYSE:ALL) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,301 shares of the insurance provider’s stock after selling 762 shares during the quarter. Wealthspire Advisors LLC’s holdings in Allstate were worth $829,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fisher Funds Management LTD acquired a new stake in Allstate in the 4th quarter valued at $11,177,000. First Horizon Advisors Inc. lifted its holdings in Allstate by 0.7% during the fourth quarter. First Horizon Advisors Inc. now owns 72,603 shares of the insurance provider’s stock valued at $13,997,000 after purchasing an additional 495 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in shares of Allstate by 2.1% in the fourth quarter. Pinnacle Financial Partners Inc now owns 15,252 shares of the insurance provider’s stock valued at $2,935,000 after purchasing an additional 317 shares during the period. Sigma Planning Corp increased its stake in shares of Allstate by 5.1% during the fourth quarter. Sigma Planning Corp now owns 4,131 shares of the insurance provider’s stock worth $797,000 after purchasing an additional 200 shares in the last quarter. Finally, Redmond Asset Management LLC acquired a new position in shares of Allstate during the 4th quarter worth about $954,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Allstate Trading Up 1.0 %

ALL opened at $190.66 on Wednesday. The stock has a market capitalization of $50.49 billion, a PE ratio of 11.22, a P/E/G ratio of 1.01 and a beta of 0.52. The Allstate Co. has a one year low of $153.87 and a one year high of $209.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The business’s 50 day moving average price is $190.06 and its 200 day moving average price is $190.70.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate 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 research analysts expect that The Allstate Co. will post 18.74 EPS for the current year.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Jefferies Financial Group boosted their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group raised their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays dropped their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.