Confluence Wealth Services Inc. Sells 478 Shares of The Allstate Co. (NYSE:ALL)

Confluence Wealth Services Inc. trimmed its holdings in The Allstate Co. (NYSE:ALL) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALL. BDF Gestion purchased a new stake in shares of Allstate in the second quarter worth about $3,051,000. BNP Paribas Financial Markets raised its holdings in shares of Allstate by 55.8% during the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after acquiring an additional 78,316 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Allstate during the 2nd quarter valued at approximately $476,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Allstate by 12.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after purchasing an additional 5,586 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Allstate by 251.8% during the first quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock valued at $9,185,000 after purchasing an additional 38,001 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALL shares. Raymond James upped their target price on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group raised their price objective on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company lowered their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, Jefferies Financial Group boosted their price objective on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.19.

Allstate Stock Down 1.3 %

Shares of Allstate stock opened at $184.15 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $48.62 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.91 and a beta of 0.48. The firm’s 50-day moving average is $188.87 and its two-hundred day moving average is $175.23. The Allstate Co. has a 1 year low of $127.93 and a 1 year high of $198.79.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 27.74%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. As a group, research analysts expect that The Allstate Co. will post 14.16 earnings per share for the current fiscal year.

Insider Activity

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is currently owned by company insiders.

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.