Wealthspire Advisors LLC Decreases Stake in The Allstate Co. (NYSE:ALL)

Wealthspire Advisors LLC trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 15.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,301 shares of the insurance provider’s stock after selling 762 shares during the quarter. Wealthspire Advisors LLC’s holdings in Allstate were worth $829,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fisher Funds Management LTD acquired a new position in Allstate during the 4th quarter worth approximately $11,177,000. First Horizon Advisors Inc. lifted its position in shares of Allstate by 0.7% during the 4th quarter. First Horizon Advisors Inc. now owns 72,603 shares of the insurance provider’s stock worth $13,997,000 after purchasing an additional 495 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of Allstate by 2.1% during the fourth quarter. Pinnacle Financial Partners Inc now owns 15,252 shares of the insurance provider’s stock worth $2,935,000 after purchasing an additional 317 shares in the last quarter. Sigma Planning Corp increased its holdings in Allstate by 5.1% in the fourth quarter. Sigma Planning Corp now owns 4,131 shares of the insurance provider’s stock valued at $797,000 after buying an additional 200 shares during the last quarter. Finally, Redmond Asset Management LLC acquired a new stake in Allstate in the fourth quarter valued at $954,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ALL shares. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Jefferies Financial Group upped their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Barclays cut their price objective 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. UBS Group upped their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Stock Performance

NYSE:ALL opened at $190.66 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The firm has a market cap of $50.49 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The firm’s fifty day moving average price is $190.06 and its 200 day moving average price is $190.70. The Allstate Co. has a 1-year low of $153.87 and a 1-year high of $209.88.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. On average, sell-side analysts expect that The Allstate Co. will post 18.74 EPS for the current year.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred 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 directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.