Wesbanco Bank Inc. Raises Holdings in The Allstate Co. (NYSE:ALL)

Wesbanco Bank Inc. boosted its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 136.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,875 shares of the insurance provider's stock after purchasing an additional 9,159 shares during the quarter. Wesbanco Bank Inc.'s holdings in Allstate were worth $3,011,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new stake in Allstate in the 1st quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the first quarter valued at about $26,000. Versant Capital Management Inc boosted its stake in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider's stock worth $30,000 after buying an additional 78 shares during the period. Family Firm Inc. purchased a new position in shares of Allstate during the second quarter worth about $38,000. Finally, MCF Advisors LLC increased its position in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider's stock valued at $53,000 after acquiring an additional 84 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Thomas J. Wilson sold 90,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now owns 88,552 shares of the company's stock, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares of the company's stock, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company's stock, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 238,305 shares of company stock worth $43,082,657. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on ALL. Raymond James lifted their target price on Allstate from $205.00 to $220.00 and gave the company a "strong-buy" rating in a research note on Friday, October 4th. Roth Mkm restated a "buy" rating and set a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. Bank of America lowered their target price on shares of Allstate from $226.00 to $216.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. BMO Capital Markets increased their price target on shares of Allstate from $191.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Finally, StockNews.com lowered Allstate from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $201.06.

Allstate Price Performance

Shares of ALL stock traded up $2.62 during trading hours on Wednesday, hitting $195.64. The company's stock had a trading volume of 1,459,187 shares, compared to its average volume of 1,549,054. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $185.67 and a 200-day moving average of $173.49. The Allstate Co. has a twelve month low of $121.70 and a twelve month high of $195.87. The stock has a market cap of $51.63 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion for the quarter, compared to analysts' expectations of $14.04 billion. During the same quarter in the prior year, the firm earned ($4.42) EPS. Allstate's quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts anticipate that The Allstate Co. will post 15.19 EPS for the current year.

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.