Fisher Funds Management LTD Makes New $11.18 Million Investment in The Allstate Co. (NYSE:ALL)

Fisher Funds Management LTD purchased a new stake in shares of The Allstate Co. (NYSE:ALL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 58,104 shares of the insurance provider’s stock, valued at approximately $11,177,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALL. First Horizon Advisors Inc. increased its holdings in Allstate by 0.7% in the 4th quarter. First Horizon Advisors Inc. now owns 72,603 shares of the insurance provider’s stock worth $13,997,000 after buying an additional 495 shares during the period. Pinnacle Financial Partners Inc raised its stake in shares of Allstate by 2.1% during the 4th quarter. Pinnacle Financial Partners Inc now owns 15,252 shares of the insurance provider’s stock worth $2,935,000 after buying an additional 317 shares during the period. Sigma Planning Corp raised its position in Allstate by 5.1% during the fourth quarter. Sigma Planning Corp now owns 4,131 shares of the insurance provider’s stock worth $797,000 after acquiring an additional 200 shares during the period. Redmond Asset Management LLC purchased a new position in Allstate during the fourth quarter valued at $954,000. Finally, Navellier & Associates Inc. grew its position in shares of Allstate by 12.7% in the fourth quarter. Navellier & Associates Inc. now owns 35,131 shares of the insurance provider’s stock valued at $6,773,000 after purchasing an additional 3,967 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several research analyst reports. Barclays lowered their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Piper Sandler raised their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price target on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Transactions at Allstate

In other Allstate 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 value of $7,480,226.06. Following the transaction, the chief financial officer now 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 filing with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Allstate stock opened at $185.51 on Friday. The firm has a 50 day simple moving average of $190.25 and a 200-day simple moving average of $190.29. The stock has a market cap of $49.12 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.03 and a beta of 0.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 1-year low of $153.87 and a 1-year high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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 return on equity of 28.20% and a net margin of 7.28%. On average, analysts expect that The Allstate Co. will post 18.65 EPS for the current 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.