Asset Planning Inc Takes $6.33 Million Position in The Allstate Co. (NYSE:ALL)

Asset Planning Inc bought a new position in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 33,459 shares of the insurance provider’s stock, valued at approximately $6,334,000. Allstate accounts for about 4.8% of Asset Planning Inc’s holdings, making the stock its 6th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Allstate by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after buying an additional 28,584 shares in the last quarter. Ameritas Advisory Services LLC raised its position in Allstate by 117.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after buying an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. raised its position in Allstate by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock worth $11,297,000 after buying an additional 3,800 shares during the last quarter. Artemis Investment Management LLP raised its position in Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock worth $77,413,000 after buying an additional 100,311 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Allstate by 38.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after purchasing an additional 2,888 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Allstate Trading Up 1.9 %

Shares of ALL opened at $192.97 on Friday. The stock has a fifty day moving average price of $191.46 and a two-hundred day moving average price of $189.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The company has a market cap of $51.10 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.47 and a beta of 0.52.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Analysts predict that The Allstate Co. will post 18.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group raised their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays cut their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Finally, Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

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.