Bank of New York Mellon Corp Sells 1,703,212 Shares of The Allstate Co. (NYSE:ALL)

Bank of New York Mellon Corp lessened its stake in The Allstate Co. (NYSE:ALL) by 32.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,478,760 shares of the insurance provider’s stock after selling 1,703,212 shares during the period. Bank of New York Mellon Corp owned about 1.31% of Allstate worth $670,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ALL. FSA Wealth Management LLC bought a new stake in shares of Allstate in the 3rd quarter worth approximately $26,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate in the third quarter valued at $29,000. Peoples Bank KS bought a new position in Allstate in the fourth quarter worth $49,000. Stonebridge Financial Group LLC bought a new stake in Allstate in the 4th quarter valued at $53,000. Finally, Golden State Wealth Management LLC bought a new stake in Allstate in the 4th quarter valued at $57,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALL shares. Jefferies Financial Group lifted their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. UBS Group increased their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays cut their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Finally, The Goldman Sachs Group upped their price target on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One 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, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Allstate Price Performance

ALL opened at $190.66 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock has a market capitalization of $50.49 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The company’s 50 day simple moving average is $190.06 and its 200-day simple moving average is $190.70. The Allstate Co. has a one year low of $153.87 and a one year high of $209.88.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating 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%. Sell-side analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate 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.