The Allstate Co. (NYSE:ALL) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in The Allstate Co. (NYSE:ALL - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,092 shares of the insurance provider's stock after selling 2,482 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Allstate worth $26,816,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider's stock valued at $2,190,758,000 after acquiring an additional 126,922 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Allstate by 1.2% in the 3rd 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 period. Allspring Global Investments Holdings LLC boosted its stake in shares of Allstate by 18.7% in 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 buying an additional 472,040 shares during the period. Raymond James & Associates boosted its stake in shares of Allstate by 10.6% in 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 during the period. Finally, Strategic Financial Concepts LLC boosted its stake 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 valued at $215,757,000 after buying an additional 1,111,748 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALL shares. Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group lifted their price objective on Allstate from $209.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. UBS Group lifted their price objective on Allstate from $216.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company boosted their target price on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $217.94.

Allstate Stock Performance

NYSE ALL traded up $2.72 on Wednesday, reaching $191.67. The stock had a trading volume of 1,129,055 shares, compared to its average volume of 1,892,672. 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 Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88. The business's 50-day moving average price is $190.55 and its 200 day moving average price is $190.03. The stock has a market cap of $50.76 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. As a group, equities analysts expect that The Allstate Co. will post 18.65 earnings per share for the current year.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction that occurred on 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 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 document filed with the SEC, which is accessible through this hyperlink. Corporate 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.