Prentice Wealth Management LLC Cuts Stock Position in The Allstate Co. (NYSE:ALL)

Prentice Wealth Management LLC trimmed its position in The Allstate Co. (NYSE:ALL) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,758 shares of the insurance provider’s stock after selling 267 shares during the period. Prentice Wealth Management LLC’s holdings in Allstate were worth $532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC increased its holdings in shares of Allstate by 15,062.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after purchasing an additional 1,111,748 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of 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 valued at $199,642,000 after buying an additional 1,047,019 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Allstate during the third quarter worth approximately $77,819,000. Los Angeles Capital Management LLC grew its stake in Allstate by 688.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock worth $87,292,000 after acquiring an additional 401,901 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Allstate by 291.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock worth $67,528,000 after purchasing an additional 265,213 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Down 1.9 %

Shares of NYSE:ALL opened at $185.51 on Friday. The stock has a market cap of $49.12 billion, a PE ratio of 10.92, a P/E/G ratio of 1.05 and a beta of 0.52. 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 12-month low of $153.87 and a 12-month high of $209.88. The business has a 50 day moving average of $190.25 and a 200-day moving average of $190.15.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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, equities research analysts forecast that The Allstate Co. will post 18.65 earnings per share for the current year.

Insider Buying and Selling

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALL has been the topic of several research reports. The Goldman Sachs Group increased their target price on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays cut their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley boosted their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.