Spinnaker Trust Invests $229,000 in The Allstate Co. (NYSE:ALL)

Spinnaker Trust bought a new position in shares of The Allstate Co. (NYSE:ALL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,210 shares of the insurance provider’s stock, valued at approximately $229,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares during the period. Raymond James & Associates boosted its stake in shares of Allstate by 10.6% in the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after buying an additional 145,986 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after acquiring an additional 47,038 shares during the period. Pathway Financial Advisers LLC raised its position in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after acquiring an additional 31,789 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. UBS Group lifted their price target on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Morgan Stanley raised their price objective on Allstate from $202.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group upped their target price on Allstate from $217.00 to $231.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.50.

Allstate Stock Performance

Allstate stock opened at $188.69 on Thursday. The stock has a fifty day moving average price of $188.89 and a 200 day moving average price of $175.59. The Allstate Co. has a 52 week low of $127.93 and a 52 week high of $198.79. The firm has a market capitalization of $49.97 billion, a P/E ratio of 12.22, a PEG ratio of 1.73 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate that The Allstate Co. will post 15.23 earnings per share for the current year.

Allstate 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.