The Allstate Co. (NYSE:ALL) Stock Holdings Boosted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,978 shares of the insurance provider’s stock after acquiring an additional 15,650 shares during the quarter. Allstate accounts for 1.2% of TimesSquare Capital Management LLC’s portfolio, making the stock its 21st largest holding. TimesSquare Capital Management LLC owned 0.16% of Allstate worth $82,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Allstate by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock worth $109,605,000 after buying an additional 28,584 shares during the period. Ameritas Advisory Services LLC raised its holdings in Allstate by 117.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock valued at $944,000 after buying an additional 2,643 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Allstate by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock valued at $11,297,000 after buying an additional 3,800 shares in the last quarter. Artemis Investment Management LLP raised its holdings in Allstate by 33.3% during the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after buying an additional 100,311 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Allstate by 38.0% during the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after buying an additional 2,888 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALL shares. Morgan Stanley lifted 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. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Barclays decreased their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group lifted their target price on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Piper Sandler lifted their target price 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.94.

Allstate Price Performance

Shares of ALL stock opened at $188.66 on Wednesday. The Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88. The firm has a market capitalization of $49.96 billion, a price-to-earnings ratio of 11.10, 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. The firm has a fifty day moving average of $190.55 and a 200-day moving average of $190.03.

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

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate 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 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 ownership of the stock. 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.

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.