Truist Financial Corp Purchases 4,076 Shares of The Allstate Co. (NYSE:ALL)

Truist Financial Corp boosted its position in The Allstate Co. (NYSE:ALL) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,802 shares of the insurance provider’s stock after acquiring an additional 4,076 shares during the quarter. Truist Financial Corp’s holdings in Allstate were worth $25,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of Allstate by 5.2% during the third quarter. Creative Planning now owns 66,823 shares of the insurance provider’s stock worth $12,673,000 after purchasing an additional 3,280 shares during the period. Global Retirement Partners LLC lifted its holdings in Allstate by 12.0% in the third quarter. Global Retirement Partners LLC now owns 2,674 shares of the insurance provider’s stock worth $507,000 after buying an additional 286 shares during the period. Blue Trust Inc. lifted its holdings in shares of Allstate by 90.4% during the third quarter. Blue Trust Inc. now owns 2,989 shares of the insurance provider’s stock valued at $567,000 after purchasing an additional 1,419 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Allstate during the third quarter valued at approximately $28,000. Finally, Horst & Graben Wealth Management LLC purchased a new position in shares of Allstate during the third quarter valued at approximately $204,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALL shares. The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company lifted their price target 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. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. UBS Group lifted their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Piper Sandler boosted their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Trading Up 0.6 %

Shares of Allstate stock opened at $188.66 on Wednesday. The Allstate Co. has a fifty-two week low of $153.87 and a fifty-two week high of $209.88. The stock has a 50 day moving average of $190.68 and a 200 day moving average of $189.95. The firm has a market capitalization of $49.96 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly 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%. As a group, research analysts predict that The Allstate Co. will post 18.64 earnings per share for the current year.

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.