Convergence Investment Partners LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Convergence Investment Partners LLC acquired a new stake in The Allstate Co. (NYSE:ALL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,222 shares of the insurance provider's stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC raised its holdings in shares of Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider's stock valued at $596,000 after buying an additional 54 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider's stock valued at $893,000 after buying an additional 59 shares during the period. Carmichael Hill & Associates Inc. raised its holdings in shares of Allstate by 15.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider's stock valued at $87,000 after buying an additional 60 shares during the period. Apella Capital LLC raised its holdings in shares of Allstate by 1.9% during the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock valued at $623,000 after buying an additional 60 shares during the period. Finally, Avior Wealth Management LLC raised its holdings in shares of Allstate by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider's stock valued at $252,000 after buying an additional 62 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

NYSE:ALL traded down $3.67 during midday trading on Friday, reaching $185.51. 1,427,939 shares of the company traded hands, compared to its average volume of 1,626,969. The Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88. The firm has a market capitalization of $49.12 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.03 and a beta of 0.52. 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 company has a fifty day moving average price of $190.25 and a 200 day moving average price of $190.15.

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

Insider Activity at Allstate

In related 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 transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, January 14th. Barclays dropped their target price on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. UBS Group lifted their price objective on Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods lifted their price objective on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $217.94.

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.