C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Reduces Holdings in The Allstate Co. (NYSE:ALL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors reduced its position in The Allstate Co. (NYSE:ALL) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,586 shares of the insurance provider’s stock after selling 91 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Allstate were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FSA Wealth Management LLC acquired a new stake in Allstate in the third quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Allstate during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate in the 3rd quarter worth approximately $29,000. Peoples Bank KS bought a new stake in shares of Allstate in the 4th quarter valued at approximately $49,000. Finally, Stonebridge Financial Group LLC bought a new stake in Allstate during the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of the 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 owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALL shares. Jefferies Financial Group increased their price objective on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets boosted their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Up 1.9 %

ALL opened at $192.97 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The company has a market capitalization of $51.10 billion, a PE ratio of 11.36, a P/E/G ratio of 1.47 and a beta of 0.52. The stock’s fifty day moving average is $191.46 and its 200-day moving average is $189.48. The Allstate Co. has a one year low of $153.87 and a one year high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS 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, equities analysts predict that The Allstate Co. will post 18.64 EPS for the current fiscal year.

Allstate Company 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.