AlphaCentric Advisors LLC Sells 69 Shares of The Allstate Co. (NYSE:ALL)

AlphaCentric Advisors LLC decreased its stake in The Allstate Co. (NYSE:ALL) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402 shares of the insurance provider’s stock after selling 69 shares during the period. AlphaCentric Advisors LLC’s holdings in Allstate were worth $78,000 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. JPMorgan Chase & Co. grew its stake in Allstate by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after purchasing an additional 28,584 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in shares of Allstate by 117.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock valued at $944,000 after buying an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. grew its stake in shares of Allstate by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock valued at $11,297,000 after buying an additional 3,800 shares in the last quarter. Artemis Investment Management LLP increased its holdings in Allstate by 33.3% during the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock worth $77,413,000 after buying an additional 100,311 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in Allstate by 38.0% during the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after acquiring an additional 2,888 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $187.53 on Tuesday. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.47 and a beta of 0.52. The Allstate Co. has a fifty-two week low of $153.87 and a fifty-two week 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 stock has a fifty day moving average price of $190.91 and a 200-day moving average price of $189.87.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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, equities analysts anticipate that The Allstate Co. will post 18.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALL. Jefferies Financial Group boosted their price objective on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 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. Morgan Stanley raised their price objective on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Piper Sandler raised their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.