Pinnacle Financial Partners Inc Boosts Position in The Allstate Co. (NYSE:ALL)

Pinnacle Financial Partners Inc boosted its position in shares of The Allstate Co. (NYSE:ALL) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,252 shares of the insurance provider’s stock after acquiring an additional 317 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Allstate were worth $2,935,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Lake Street Advisors Group LLC increased its position in Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after acquiring an additional 54 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after acquiring an additional 59 shares during the last quarter. Carmichael Hill & Associates Inc. increased its position in Allstate by 15.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 60 shares during the last quarter. Apella Capital LLC increased its position in Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after acquiring an additional 60 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in Allstate by 4.9% during the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays reduced their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. UBS Group upped their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group upped their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company upped their price target on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Insider Activity at Allstate

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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Allstate Price Performance

Shares of Allstate stock opened at $185.51 on Friday. The stock has a 50 day moving average of $190.25 and a 200 day moving average of $190.29. The Allstate Co. has a 12 month low of $153.87 and a 12 month high of $209.88. The firm has a market cap of $49.12 billion, a PE ratio of 10.92, a PEG ratio of 1.03 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating 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%. On average, research analysts expect that The Allstate Co. will post 18.65 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.