Portfolio Design Labs LLC Buys New Stake in The Allstate Co. (NYSE:ALL)

Portfolio Design Labs LLC bought a new stake in The Allstate Co. (NYSE:ALL) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,381 shares of the insurance provider’s stock, valued at approximately $266,000.

Other large investors have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in Allstate in the third quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the third quarter valued at $29,000. Peoples Bank KS acquired a new position in Allstate in the fourth quarter valued at $49,000. Finally, Stonebridge Financial Group LLC acquired a new position in Allstate in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.0 %

Shares of Allstate stock opened at $189.38 on Thursday. The Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a market cap of $50.15 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a 50-day moving average of $191.77 and a two-hundred day moving average of $189.48.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) 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, research analysts anticipate that The Allstate Co. will post 18.64 EPS for the current fiscal year.

Insider Transactions 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 shares were 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 $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. BMO Capital Markets upped their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price 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. Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Barclays decreased their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $217.94.

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.