New York State Common Retirement Fund Cuts Stake in The Allstate Co. (NYSE:ALL)

New York State Common Retirement Fund trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 159,970 shares of the insurance provider’s stock after selling 7,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Allstate were worth $30,841,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in shares of Allstate during the third quarter worth about $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Allstate during the third quarter worth about $29,000. Peoples Bank KS purchased a new stake in shares of Allstate during the fourth quarter worth about $49,000. Stonebridge Financial Group LLC purchased a new stake in shares of Allstate during the fourth quarter worth about $53,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Allstate during the fourth quarter worth about $57,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Piper Sandler lifted their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Stock Performance

Shares of ALL stock opened at $189.37 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 business has a 50 day moving average of $190.46 and a two-hundred day moving average of $190.04. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The company has a market cap of $50.15 billion, a P/E ratio of 11.15, a PEG ratio of 1.03 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its 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%. As a group, analysts anticipate that The Allstate Co. will post 18.65 EPS for the current year.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of Allstate 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 owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.