Klingenstein Fields & Co. LP Sells 5,210 Shares of The Allstate Co. (NYSE:ALL)

Klingenstein Fields & Co. LP decreased its position in shares of The Allstate Co. (NYSE:ALL) by 25.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,973 shares of the insurance provider’s stock after selling 5,210 shares during the period. Klingenstein Fields & Co. LP’s holdings in Allstate were worth $2,840,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BDF Gestion bought a new position in Allstate during the 2nd quarter worth $3,051,000. BNP Paribas Financial Markets increased its position in shares of Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares during the period. OFI Invest Asset Management bought a new position in shares of Allstate in the second quarter worth $476,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Allstate by 12.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock worth $8,717,000 after purchasing an additional 5,586 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Allstate by 251.8% in the first quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock worth $9,185,000 after purchasing an additional 38,001 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 1.3 %

Shares of ALL stock opened at $184.15 on Monday. The company has a market cap of $48.76 billion, a P/E ratio of 11.93, a PEG ratio of 1.88 and a beta of 0.48. The stock has a 50 day simple moving average of $188.87 and a two-hundred day simple moving average of $175.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.40. The Allstate Co. has a fifty-two week low of $127.93 and a fifty-two week high of $198.79.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. Research analysts forecast that The Allstate Co. will post 14.16 earnings per share for the current year.

Insiders Place Their Bets

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALL shares. BMO Capital Markets raised their price target on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company decreased their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Piper Sandler raised their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Bank of America raised their price target on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group lifted their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.19.

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.