Commonwealth Retirement Investments LLC Boosts Stake in The Allstate Co. (NYSE:ALL)

Commonwealth Retirement Investments LLC boosted its stake in The Allstate Co. (NYSE:ALL) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,099 shares of the insurance provider’s stock after buying an additional 286 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Allstate were worth $1,176,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its position in Allstate by 1.5% in the 3rd quarter. Allworth Financial LP now owns 14,584 shares of the insurance provider’s stock valued at $2,766,000 after acquiring an additional 213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Allstate by 24.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,397 shares of the insurance provider’s stock worth $3,089,000 after buying an additional 3,200 shares during the period. Arkadios Wealth Advisors boosted its position in Allstate by 15.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 5,228 shares of the insurance provider’s stock valued at $991,000 after buying an additional 701 shares during the period. PFG Investments LLC increased its position in shares of Allstate by 4.1% during the third quarter. PFG Investments LLC now owns 5,805 shares of the insurance provider’s stock worth $1,101,000 after acquiring an additional 228 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Allstate by 39.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 97,170 shares of the insurance provider’s stock valued at $18,428,000 after purchasing an additional 27,253 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group increased their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Barclays lowered their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Up 1.6 %

Shares of Allstate stock opened at $188.60 on Tuesday. The company’s fifty day moving average is $190.12 and its two-hundred day moving average is $190.56. The Allstate Co. has a 1 year low of $153.87 and a 1 year high of $209.88. 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 company has a market capitalization of $49.94 billion, a P/E ratio of 11.10, a PEG ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last released 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%. Analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.