Manchester Capital Management LLC Takes $338,000 Position in The Allstate Co. (NYSE:ALL)

Manchester Capital Management LLC acquired a new stake in The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,755 shares of the insurance provider’s stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Valeo Financial Advisors LLC increased its holdings in Allstate by 8.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,243 shares of the insurance provider’s stock worth $818,000 after buying an additional 333 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Allstate during the fourth quarter worth $42,988,000. Asset Planning Inc acquired a new position in Allstate during the fourth quarter worth $6,334,000. Vontobel Holding Ltd. increased its holdings in Allstate by 3.4% during the fourth quarter. Vontobel Holding Ltd. now owns 43,131 shares of the insurance provider’s stock worth $8,315,000 after buying an additional 1,438 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Allstate by 1.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 106,580 shares of the insurance provider’s stock worth $20,655,000 after buying an additional 1,237 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of ALL opened at $187.53 on Friday. The stock has a market cap of $49.66 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.47 and a beta of 0.52. The business’s fifty day moving average is $191.23 and its 200 day moving average is $189.50. The Allstate Co. has a 12-month low of $153.87 and a 12-month 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.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 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%. Sell-side analysts anticipate that The Allstate Co. will post 18.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ALL. Wells Fargo & Company lifted their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. BMO Capital Markets lifted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. UBS Group boosted their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Barclays reduced their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s 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 directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.