Truist Financial Corp Acquires 4,076 Shares of The Allstate Co. (NYSE:ALL)

Truist Financial Corp increased its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,802 shares of the insurance provider's stock after buying an additional 4,076 shares during the period. Truist Financial Corp's holdings in Allstate were worth $25,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ALL. Strategic Financial Concepts LLC raised its stake in Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after buying an additional 1,111,748 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider's stock worth $199,642,000 after buying an additional 1,047,019 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in Allstate during the third quarter worth $77,819,000. Los Angeles Capital Management LLC raised its stake in Allstate by 688.4% during the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider's stock worth $87,292,000 after buying an additional 401,901 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Allstate by 291.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider's stock valued at $67,528,000 after purchasing an additional 265,213 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Down 1.9 %

Allstate stock traded down $3.67 during midday trading on Friday, hitting $185.51. 1,427,939 shares of the stock were exchanged, compared to its average volume of 1,864,422. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The stock has a market capitalization of $49.12 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.05 and a beta of 0.52. The business's 50-day moving average price is $190.46 and its 200-day moving average price is $190.04. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. On average, research analysts expect that The Allstate Co. will post 18.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Allstate from $220.00 to $228.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Jefferies Financial Group lifted their price target on shares of Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Barclays decreased their price target on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating for the company in a research note on Monday, January 6th. Finally, Piper Sandler lifted their price target on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $217.94.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction dated Monday, February 10th. The shares were 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 in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

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.