Fisher Funds Management LTD Takes $11.18 Million Position in The Allstate Co. (NYSE:ALL)

Fisher Funds Management LTD bought a new position in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 58,104 shares of the insurance provider’s stock, valued at approximately $11,177,000.

Several other hedge funds have also recently bought and sold shares of ALL. FSA Wealth Management LLC acquired a new stake in shares of Allstate during the third quarter worth about $26,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate during the 3rd quarter worth approximately $29,000. Peoples Bank KS purchased a new stake in Allstate during the 4th quarter worth approximately $49,000. Stonebridge Financial Group LLC acquired a new stake in Allstate during the 4th quarter worth approximately $53,000. Finally, Golden State Wealth Management LLC purchased a new position in Allstate in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction on Monday, February 10th. The shares were 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 $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $185.51 on Friday. The firm has a fifty day moving average price of $190.25 and a 200 day moving average price of $190.29. The stock has a market cap of $49.12 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.03 and a beta of 0.52. The Allstate Co. has a 1-year low of $153.87 and a 1-year high of $209.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last announced its earnings results 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 anticipate that The Allstate Co. will post 18.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays decreased their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the stock 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 report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus target price 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.