Hartford Investment Management Co. Reduces Position in The Allstate Co. (NYSE:ALL)

Hartford Investment Management Co. lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,406 shares of the insurance provider’s stock after selling 317 shares during the quarter. Hartford Investment Management Co.’s holdings in Allstate were worth $3,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of Allstate during the 3rd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of Allstate during the 3rd quarter valued at $29,000. Peoples Bank KS bought a new stake in shares of Allstate during the 4th quarter valued at $49,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Allstate during the 4th quarter valued at $53,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. UBS Group lifted their price target on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Bank of America lifted their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Morgan Stanley lifted 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Allstate Trading Down 0.0 %

Shares of Allstate stock opened at $189.38 on Thursday. 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 Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88. The firm has a market capitalization of $50.15 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.47 and a beta of 0.52. The firm’s 50 day simple moving average is $191.77 and its two-hundred day simple moving average is $189.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results 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%. Analysts predict that The Allstate Co. will post 18.64 EPS for the current year.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction 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 $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Allstate Company 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.