Avidian Wealth Enterprises LLC Sells 1,980 Shares of The Allstate Co. (NYSE:ALL)

Avidian Wealth Enterprises LLC lessened its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 36.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,493 shares of the insurance provider's stock after selling 1,980 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Allstate were worth $673,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider's stock worth $2,190,758,000 after purchasing an additional 126,922 shares during the last quarter. Geode Capital Management LLC lifted its stake in Allstate by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider's stock valued at $1,178,164,000 after buying an additional 74,537 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock valued at $569,114,000 after acquiring an additional 472,040 shares during the period. Raymond James & Associates grew its position in shares of Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider's stock worth $287,851,000 after acquiring an additional 145,986 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Allstate by 15,062.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after acquiring an additional 1,111,748 shares during the period. Institutional investors own 76.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price 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. Wells Fargo & Company increased their price objective on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 14th. Jefferies Financial Group lifted their target price on Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, November 8th. UBS Group increased their price target on Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Barclays lowered their price target on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.94.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company's stock.

Allstate Price Performance

Shares of NYSE ALL traded down $5.24 during midday trading on Friday, reaching $187.53. The company's stock had a trading volume of 3,917,486 shares, compared to its average volume of 1,603,816. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The Allstate Co. has a one year low of $153.87 and a one year high of $209.88. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average price of $190.91 and a 200 day moving average price of $189.74.

Allstate (NYSE:ALL - Get Free Report) 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%. On average, equities research analysts expect that The Allstate Co. will post 18.64 EPS for the current 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.