The Allstate Co. (NYSE:ALL) CFO Jesse E. Merten Sells 40,102 Shares

The Allstate Co. (NYSE:ALL) CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Allstate Stock Performance

NYSE ALL opened at $189.38 on Thursday. The company has a market capitalization of $50.15 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The Allstate Co. has a twelve month low of $153.87 and a twelve 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 business’s 50-day moving average price is $191.77 and its 200 day moving average price is $189.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating 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, research analysts predict that The Allstate Co. will post 18.64 earnings per share for the current year.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Allstate by 5.2% in 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 last quarter. Ameritas Advisory Services LLC lifted its holdings in shares of Allstate by 117.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after purchasing an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings 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 acquiring an additional 3,800 shares during the period. Artemis Investment Management LLP grew its position in Allstate by 33.3% in the 4th 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 purchasing an additional 2,888 shares during the period. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALL. The Goldman Sachs Group raised their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. Morgan Stanley raised their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets upped their price target on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $217.94.

About Allstate

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.