Avidian Wealth Enterprises LLC Has $673,000 Stock Holdings in The Allstate Co. (NYSE:ALL)

Avidian Wealth Enterprises LLC lowered its stake in The Allstate Co. (NYSE:ALL) by 36.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,493 shares of the insurance provider’s stock after selling 1,980 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Allstate were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALL. JPMorgan Chase & Co. boosted its holdings in shares of Allstate by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after acquiring an additional 28,584 shares in the last quarter. Ameritas Advisory Services LLC raised its position in Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock valued at $944,000 after purchasing an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Allstate by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock valued at $11,297,000 after purchasing an additional 3,800 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Allstate by 33.3% during the fourth 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 last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Allstate by 38.0% in the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after buying an additional 2,888 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $189.38 on Thursday. The stock’s 50 day moving average price is $191.77 and its two-hundred day moving average price is $189.48. The stock has a market capitalization of $50.15 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.47 and a beta of 0.52. 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 Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. On average, equities analysts predict that The Allstate Co. will post 18.64 earnings per share for the current year.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BMO Capital Markets lifted their target price 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. Wells Fargo & Company lifted their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. UBS Group increased their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Bank of America raised their target price on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.