Atria Wealth Solutions Inc. Increases Stake in The Allstate Co. (NYSE:ALL)

Atria Wealth Solutions Inc. raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 140.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,655 shares of the insurance provider’s stock after buying an additional 6,215 shares during the period. Atria Wealth Solutions Inc.’s holdings in Allstate were worth $2,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. FSA Wealth Management LLC purchased a new stake in shares of Allstate in the third quarter worth $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Allstate in the third quarter worth $29,000. Peoples Bank KS purchased a new stake in shares of Allstate in the fourth quarter worth $49,000. Stonebridge Financial Group LLC purchased a new stake in shares of Allstate in the fourth quarter worth $53,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Allstate in the fourth quarter worth $57,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. 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. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’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 completion of the sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

ALL stock opened at $185.51 on Friday. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. 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 fifty day simple moving average of $190.25 and a two-hundred day simple moving average of $190.29. The firm has a market capitalization of $49.12 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.03 and a beta of 0.52.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (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%. Analysts anticipate that The Allstate Co. will post 18.65 earnings per share 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.