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

Truist Financial Corp boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,802 shares of the insurance provider’s stock after acquiring an additional 4,076 shares during the quarter. Truist Financial Corp’s holdings in Allstate were worth $25,024,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in Allstate during the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate during the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Allstate in the 3rd quarter valued at about $29,000. Peoples Bank KS bought a new position in shares of Allstate in the 4th quarter valued at about $49,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Allstate in the 4th quarter valued at about $53,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price 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. Jefferies Financial Group raised their target price 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 raised their target price 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. Morgan Stanley raised their target price 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. Finally, UBS Group raised their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.6 %

NYSE ALL opened at $188.66 on Wednesday. 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 Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88. The company has a market cap of $49.96 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The business’s fifty day moving average is $190.68 and its 200 day moving average is $189.95.

Allstate (NYSE:ALL) last announced 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%. As a group, sell-side analysts expect that The Allstate Co. will post 18.64 EPS for the current fiscal year.

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.