Aries Wealth Management Has $470,000 Stock Holdings in The Allstate Co. (NYSE:ALL)

Aries Wealth Management decreased its stake in The Allstate Co. (NYSE:ALL) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,440 shares of the insurance provider’s stock after selling 205 shares during the period. Aries Wealth Management’s holdings in Allstate were worth $470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. Exchange Traded Concepts LLC increased its position in shares of Allstate by 6,673.1% during the 3rd 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 last quarter. Creative Planning grew its stake in shares of Allstate by 5.2% in the third quarter. Creative Planning now owns 66,823 shares of the insurance provider’s stock valued at $12,673,000 after buying an additional 3,280 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in Allstate by 9.0% during the third quarter. SeaCrest Wealth Management LLC now owns 1,580 shares of the insurance provider’s stock worth $300,000 after buying an additional 131 shares during the last quarter. Sumitomo Life Insurance Co. raised its position in Allstate by 0.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,567 shares of the insurance provider’s stock worth $1,245,000 after acquiring an additional 61 shares in the last quarter. Finally, Fulton Breakefield Broenniman LLC acquired a new stake in Allstate in the third quarter valued at $219,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Allstate Price Performance

NYSE:ALL opened at $192.97 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm has a market cap of $51.10 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.47 and a beta of 0.52. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The firm’s 50-day simple moving average is $191.46 and its 200 day simple moving average is $189.48.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that The Allstate Co. will post 18.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. Evercore ISI upgraded shares of 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 on the stock in a research report on Monday, January 6th. Piper Sandler raised their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Jefferies Financial Group boosted their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.