MGB Wealth Management LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

MGB Wealth Management LLC purchased a new stake in The Allstate Co. (NYSE:ALL) in the fourth quarter, Holdings Channel reports. The firm purchased 1,398 shares of the insurance provider’s stock, valued at approximately $269,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Leavell Investment Management Inc. grew its position in shares of Allstate by 17.2% during the 4th quarter. Leavell Investment Management Inc. now owns 1,837 shares of the insurance provider’s stock valued at $356,000 after buying an additional 269 shares during the last quarter. Portfolio Design Labs LLC bought a new position in shares of Allstate during the fourth quarter valued at approximately $266,000. Peterson Wealth Services grew its holdings in shares of Allstate by 8.5% during the fourth quarter. Peterson Wealth Services now owns 1,379 shares of the insurance provider’s stock valued at $266,000 after purchasing an additional 108 shares during the last quarter. Axecap Investments LLC raised its position in shares of Allstate by 5.7% during the 4th quarter. Axecap Investments LLC now owns 18,879 shares of the insurance provider’s stock worth $3,640,000 after purchasing an additional 1,010 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $53,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALL has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Jefferies Financial Group boosted their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group raised their price target on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Allstate Trading Down 0.0 %

Shares of Allstate stock opened at $189.38 on Thursday. The business has a fifty day simple moving average of $191.77 and a 200-day simple moving average of $189.48. The Allstate Co. has a fifty-two week low of $153.87 and a fifty-two week high of $209.88. The firm has a market cap of $50.15 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. On average, equities analysts forecast that The Allstate Co. will post 18.64 EPS 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.