Wealth Alliance Sells 180 Shares of The Allstate Co. (NYSE:ALL)

Wealth Alliance cut its stake in shares of The Allstate Co. (NYSE:ALL) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,858 shares of the insurance provider’s stock after selling 180 shares during the quarter. Wealth Alliance’s holdings in Allstate were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in ALL. FSA Wealth Management LLC bought a new stake in shares of Allstate in the 3rd quarter worth approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in shares of Allstate in the 3rd quarter worth approximately $29,000. Peoples Bank KS bought a new stake in shares of Allstate in the 4th quarter worth approximately $49,000. Stonebridge Financial Group LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $53,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $57,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALL. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company upped their price target on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Morgan Stanley upped their price target on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Piper Sandler upped their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Down 1.2 %

Shares of Allstate stock opened at $189.37 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 company’s fifty day simple moving average is $190.46 and its two-hundred day simple moving average is $190.04. The company has a market cap of $50.15 billion, a P/E ratio of 11.15, a PEG ratio of 1.03 and a beta of 0.52. The Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88.

Allstate (NYSE:ALL) last issued 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 net margin of 7.28% and a return on equity of 28.20%. Research analysts anticipate that The Allstate Co. will post 18.65 EPS for the current year.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated 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 $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.