Redmond Asset Management LLC Invests $954,000 in The Allstate Co. (NYSE:ALL)

Redmond Asset Management LLC purchased a new position in The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,950 shares of the insurance provider’s stock, valued at approximately $954,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after buying an additional 126,922 shares during the last quarter. Geode Capital Management LLC lifted its position in Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after purchasing an additional 74,537 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after purchasing an additional 1,111,748 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after purchasing an additional 1,047,019 shares in the last quarter. Finally, FMR LLC lifted its position in Allstate by 11.8% during the third quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock valued at $177,010,000 after purchasing an additional 98,179 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 1.9 %

Shares of ALL stock opened at $185.51 on Friday. The Allstate Co. has a 12-month low of $153.87 and a 12-month high of $209.88. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $190.25 and its 200-day moving average price is $190.15. The stock has a market capitalization of $49.12 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.05 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Equities research analysts predict that The Allstate Co. will post 18.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALL shares. Barclays lowered their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. UBS Group boosted their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Piper Sandler boosted their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

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.