Avidian Wealth Enterprises LLC Has $673,000 Stock Position in The Allstate Co. (NYSE:ALL)

Avidian Wealth Enterprises LLC lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,493 shares of the insurance provider’s stock after selling 1,980 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Allstate were worth $673,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Carnegie Investment Counsel bought a new stake in Allstate in the 3rd quarter valued at $224,000. Exchange Traded Concepts LLC boosted its position in Allstate by 6,673.1% during the third quarter. Exchange Traded Concepts LLC now owns 5,283 shares of the insurance provider’s stock worth $1,002,000 after purchasing an additional 5,205 shares during the period. CX Institutional increased its holdings in shares of Allstate by 523.5% in the third quarter. CX Institutional now owns 25,656 shares of the insurance provider’s stock valued at $4,866,000 after purchasing an additional 21,541 shares during the last quarter. Wesbanco Bank Inc. raised its position in shares of Allstate by 136.4% in the third quarter. Wesbanco Bank Inc. now owns 15,875 shares of the insurance provider’s stock valued at $3,011,000 after purchasing an additional 9,159 shares during the period. Finally, Creative Planning lifted its stake in shares of Allstate by 5.2% during the 3rd quarter. Creative Planning now owns 66,823 shares of the insurance provider’s stock worth $12,673,000 after buying an additional 3,280 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Bank of America increased their target price on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Barclays lowered their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $217.94.

Allstate Trading Down 0.0 %

ALL opened at $189.38 on Thursday. The stock has a market capitalization of $50.15 billion, a price-to-earnings ratio of 11.15, a P/E/G 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 Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88. The company has a 50-day simple moving average of $191.77 and a 200 day simple moving average of $189.48.

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

Insiders Place Their Bets

In other 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.