Redmond Asset Management LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Redmond Asset Management LLC purchased a new position in shares of The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,950 shares of the insurance provider’s stock, valued at approximately $954,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in shares of Allstate by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,009 shares of the insurance provider’s stock valued at $1,520,000 after acquiring an additional 303 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Allstate by 2.6% in the 3rd quarter. Signaturefd LLC now owns 4,440 shares of the insurance provider’s stock valued at $842,000 after acquiring an additional 111 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Allstate in the 3rd quarter valued at about $285,000. Global Assets Advisory LLC bought a new stake in shares of Allstate in the 3rd quarter valued at about $206,000. Finally, IFM Investors Pty Ltd lifted its stake in shares of Allstate by 1.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 53,111 shares of the insurance provider’s stock valued at $10,073,000 after acquiring an additional 729 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ALL shares. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Barclays lowered 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. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upped their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Activity at Allstate

In other Allstate 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 completion of the sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Allstate Stock Down 1.9 %

ALL stock opened at $185.51 on Friday. The Allstate Co. has a twelve month low of $153.87 and a twelve month 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 firm has a market cap of $49.12 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.05 and a beta of 0.52. The business has a 50 day moving average of $190.25 and a 200 day moving average of $190.15.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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 return on equity of 28.20% and a net margin of 7.28%. On average, research analysts forecast that The Allstate Co. will post 18.65 EPS for the current fiscal year.

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.