The Allstate Co. (NYSE:ALL) is Allspring Global Investments Holdings LLC's 10th Largest Position

Allspring Global Investments Holdings LLC decreased its stake in The Allstate Co. (NYSE:ALL - Free Report) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,795,282 shares of the insurance provider's stock after selling 205,584 shares during the period. Allstate makes up 0.9% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 10th biggest position. Allspring Global Investments Holdings LLC owned 1.06% of Allstate worth $536,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Allstate by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider's stock valued at $109,605,000 after purchasing an additional 28,584 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings in Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider's stock valued at $944,000 after purchasing an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in Allstate by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider's stock valued at $11,297,000 after purchasing an additional 3,800 shares during the last quarter. Artemis Investment Management LLP boosted its holdings in Allstate by 33.3% in the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider's stock valued at $77,413,000 after purchasing an additional 100,311 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in Allstate by 38.0% in the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider's stock valued at $2,067,000 after purchasing an additional 2,888 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Jefferies Financial Group upped their price objective on Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Bank of America upped their price objective on Allstate from $216.00 to $233.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Finally, UBS Group upped 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $217.94.

Allstate Price Performance

NYSE ALL traded down $5.24 on Friday, reaching $187.53. 3,917,486 shares of the stock traded hands, compared to its average volume of 1,603,816. The firm's fifty day simple moving average is $190.91 and its 200 day simple moving average is $189.63. 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 market cap of $49.66 billion, a price-to-earnings ratio of 11.04, a P/E/G 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.

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

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.