Welch Group LLC Makes New $303,000 Investment in The Allstate Co. (NYSE:ALL)

Welch Group LLC acquired a new position in shares of The Allstate Co. (NYSE:ALL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,599 shares of the insurance provider’s stock, valued at approximately $303,000.

Several other hedge funds have also modified their holdings of ALL. Smithbridge Asset Management Inc. DE acquired a new stake in Allstate in the 3rd quarter valued at about $218,000. Leuthold Group LLC purchased a new position in Allstate in the third quarter worth approximately $4,026,000. J.W. Cole Advisors Inc. grew its holdings in Allstate by 34.1% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,330 shares of the insurance provider’s stock worth $442,000 after acquiring an additional 593 shares in the last quarter. Pullen Investment Management LLC increased its position in shares of Allstate by 1.8% in the 3rd quarter. Pullen Investment Management LLC now owns 11,985 shares of the insurance provider’s stock valued at $2,273,000 after purchasing an additional 210 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Allstate by 32.6% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,023 shares of the insurance provider’s stock valued at $573,000 after purchasing an additional 744 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ALL. Keefe, Bruyette & Woods increased their target price on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Raymond James raised their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. TD Cowen boosted their price objective on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. BMO Capital Markets increased their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Bank of America boosted their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average price target of $206.44.

Insider Buying and Selling

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

Allstate Stock Performance

Shares of NYSE ALL traded up $0.91 during mid-day trading on Monday, hitting $189.03. 175,646 shares of the company were exchanged, compared to its average volume of 1,529,445. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $49.89 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The stock has a 50 day simple moving average of $188.18 and a 200-day simple moving average of $174.54. The Allstate Co. has a 1-year low of $123.42 and a 1-year high of $198.79.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same period in the previous year, the business posted ($4.42) earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Allstate Co. will post 15.19 EPS for the current fiscal year.

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.