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

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lessened its stake in shares of The Allstate Co. (NYSE:ALL) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,585 shares of the insurance provider’s stock after selling 92 shares during the quarter. 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 have also recently made changes to their positions in ALL. JPMorgan Chase & Co. lifted its stake in shares of Allstate by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock worth $109,605,000 after purchasing an additional 28,584 shares during the period. Ameritas Advisory Services LLC lifted its stake in shares of Allstate by 117.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after purchasing an additional 2,643 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of Allstate by 6.9% in the 4th quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock worth $11,297,000 after purchasing an additional 3,800 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Allstate by 33.3% in the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock worth $77,413,000 after purchasing an additional 100,311 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in shares of Allstate by 38.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after purchasing an additional 2,888 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 1.2 %

ALL stock opened at $189.37 on Friday. The firm has a fifty day moving average price of $190.46 and a 200 day moving average price of $190.04. The Allstate Co. has a fifty-two week low of $153.87 and a fifty-two week high of $209.88. 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 firm has a market cap of $50.15 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.03 and a beta of 0.52.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Sell-side analysts anticipate that The Allstate Co. will post 18.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALL has been the topic of a number of recent analyst reports. Morgan Stanley raised 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 upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group raised their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company raised their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

About Allstate

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.