The Allstate Co. (NYSE:ALL) is Lorne Steinberg Wealth Management Inc.’s 7th Largest Position

Lorne Steinberg Wealth Management Inc. reduced its position in shares of The Allstate Co. (NYSE:ALL) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,335 shares of the insurance provider’s stock after selling 195 shares during the period. Allstate comprises approximately 2.9% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 7th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Allstate were worth $10,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in Allstate in the third quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate in the third quarter valued at $29,000. Peoples Bank KS purchased a new stake in Allstate in the fourth quarter valued at $49,000. Finally, Stonebridge Financial Group LLC purchased a new stake in Allstate in the fourth quarter valued at $53,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price 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. UBS Group upped their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Piper Sandler upped their target price on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group upped 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Insiders Place Their Bets

In other Allstate 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 transaction of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares in the company, 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 filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Allstate Trading Up 0.6 %

Shares of ALL opened at $188.66 on Wednesday. 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 two-hundred day moving average is $190.03. The Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88. The firm 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.

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