Confluence Wealth Services Inc. Trims Stock Holdings in The Allstate Co. (NYSE:ALL)

Confluence Wealth Services Inc. lowered its position in shares of The Allstate Co. (NYSE:ALL) by 6.0% in the third quarter, HoldingsChannel.com reports. The fund owned 7,527 shares of the insurance provider’s stock after selling 478 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Allstate were worth $1,427,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ALL. Allspring Global Investments Holdings LLC lifted its position in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the period. Raymond James & Associates raised its stake in shares of Allstate by 10.6% during the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after buying an additional 145,986 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after buying an additional 47,038 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after buying an additional 1,047,019 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after acquiring an additional 31,789 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group increased their target price on shares of Allstate from $215.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Evercore ISI lifted their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Morgan Stanley increased their price target on Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.19.

Insider Activity at Allstate

In other Allstate news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allstate news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by company insiders.

Allstate Stock Performance

NYSE:ALL opened at $184.15 on Friday. The company has a market cap of $48.62 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.91 and a beta of 0.48. The Allstate Co. has a twelve month low of $127.93 and a twelve month high of $198.79. The company’s 50-day moving average price is $188.87 and its 200-day moving average price is $175.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 27.74%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. On average, sell-side analysts forecast that The Allstate Co. will post 14.16 earnings per share for the current fiscal year.

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.