Klingenstein Fields & Co. LP Sells 917 Shares of The Allstate Co. (NYSE:ALL)

Klingenstein Fields & Co. LP reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,056 shares of the insurance provider’s stock after selling 917 shares during the period. Klingenstein Fields & Co. LP’s holdings in Allstate were worth $2,710,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. FSA Wealth Management LLC acquired a new stake in Allstate during the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate during the 3rd quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate during the 3rd quarter worth about $29,000. Peoples Bank KS acquired a new stake in Allstate during the 4th quarter worth about $49,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Allstate during the 4th quarter worth about $53,000. 76.47% of the stock is owned by institutional investors.

Allstate Price Performance

Allstate stock opened at $192.97 on Friday. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The company’s 50 day moving average price is $191.46 and its two-hundred day moving average price is $189.48. 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 stock has a market cap of $51.10 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.47 and a beta of 0.52.

Allstate (NYSE:ALL) last posted 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%. On average, equities analysts predict that The Allstate Co. will post 18.64 earnings per share for the current year.

Analyst Ratings Changes

ALL has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. BMO Capital Markets increased their price target on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Jefferies Financial Group increased their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler raised their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

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 sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was 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.

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.