Klingenstein Fields & Co. LP Sells 917 Shares of The Allstate Co. (NYSE:ALL)

Klingenstein Fields & Co. LP decreased its holdings in shares of The Allstate Co. (NYSE:ALL) by 6.1% during the fourth quarter, HoldingsChannel reports. The fund owned 14,056 shares of the insurance provider’s stock after selling 917 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Allstate were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in 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 during the period. Ameritas Advisory Services LLC raised its holdings in Allstate by 117.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock valued at $944,000 after acquiring an additional 2,643 shares during the period. Hennessy Advisors Inc. raised its holdings in Allstate by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock valued at $11,297,000 after acquiring an additional 3,800 shares during the period. Artemis Investment Management LLP grew its position in shares of Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after purchasing an additional 100,311 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in shares of Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after purchasing an additional 2,888 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction 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 represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALL. Morgan Stanley boosted their price target on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. UBS Group boosted their price target 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 price target 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. The Goldman Sachs Group boosted their price target 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. Finally, Jefferies Financial Group boosted their price target on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Performance

Allstate stock opened at $192.97 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $51.10 billion, a PE ratio of 11.36, a P/E/G ratio of 1.47 and a beta of 0.52. The firm has a fifty day simple moving average of $191.46 and a two-hundred day simple moving average of $189.48. The Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88.

Allstate (NYSE:ALL) last posted its quarterly earnings results 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 net margin of 7.28% and a return on equity of 28.20%. Research analysts expect that The Allstate Co. will post 18.64 EPS for the current year.

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.