Asset Planning Inc Takes $6.33 Million Position in The Allstate Co. (NYSE:ALL)

Asset Planning Inc bought a new stake in shares of The Allstate Co. (NYSE:ALL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,459 shares of the insurance provider's stock, valued at approximately $6,334,000. Allstate accounts for 4.8% of Asset Planning Inc's portfolio, making the stock its 6th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. State Street Corp raised its position in Allstate by 1.1% in the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider's stock worth $2,190,758,000 after acquiring an additional 126,922 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Allstate by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider's stock worth $1,178,164,000 after buying an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock valued at $569,114,000 after purchasing an additional 472,040 shares during the last quarter. Raymond James & Associates grew its holdings in Allstate by 10.6% during the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider's stock valued at $287,851,000 after buying an additional 145,986 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock valued at $215,757,000 after purchasing an additional 1,111,748 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction 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 directly owns 18,115 shares of the company's stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company's stock.

Allstate Stock Performance

Shares of Allstate stock traded up $1.03 during midday trading on Tuesday, hitting $188.66. The company had a trading volume of 3,621,995 shares, compared to its average volume of 1,917,339. The stock has a market cap 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 Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88. 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 company has a fifty day simple moving average of $190.68 and a 200 day simple moving average of $189.95.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts predict that The Allstate Co. will post 18.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALL. The Goldman Sachs Group lifted their price target on Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Wells Fargo & Company raised 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. Morgan Stanley lifted their target price 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 shares of Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Finally, Barclays cut their price objective on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $217.94.

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.