Root Financial Partners LLC Cuts Holdings in The Allstate Co. (NYSE:ALL)

Root Financial Partners LLC cut its holdings in The Allstate Co. (NYSE:ALL) by 13.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,149 shares of the insurance provider’s stock after selling 186 shares during the quarter. Root Financial Partners LLC’s holdings in Allstate were worth $222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after purchasing an additional 126,922 shares during the period. Geode Capital Management LLC boosted its stake in shares of Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after acquiring an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares during the period. Raymond James & Associates increased its stake in Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after purchasing an additional 145,986 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock worth $215,757,000 after purchasing an additional 1,111,748 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley upped their target price on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Bank of America upped their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average price target of $217.94.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

ALL opened at $187.53 on Friday. The company has a 50 day moving average of $191.23 and a two-hundred day moving average of $189.50. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a market cap of $49.66 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.47 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, analysts expect that The Allstate Co. will post 18.64 earnings per share for the current 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.