Convergence Financial LLC Has $1.65 Million Holdings in The Allstate Co. (NYSE:ALL)

Convergence Financial LLC boosted its position in shares of The Allstate Co. (NYSE:ALL) by 33.8% in the third quarter, Holdings Channel reports. The fund owned 8,722 shares of the insurance provider’s stock after acquiring an additional 2,204 shares during the period. Convergence Financial LLC’s holdings in Allstate were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Allstate during the 3rd quarter valued at $28,000. Versant Capital Management Inc raised its position in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Allstate in the second quarter valued at about $38,000. MCF Advisors LLC grew its position in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new position in Allstate during the second quarter valued at about $58,000. 76.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. 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 at the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is currently owned by corporate insiders.

Allstate Stock Performance

Shares of NYSE:ALL opened at $188.12 on Friday. The business has a fifty day moving average of $188.01 and a 200-day moving average of $174.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a twelve month low of $122.53 and a twelve month high of $198.79. The firm has a market cap of $49.65 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter last year, the company posted ($4.42) EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts predict that The Allstate Co. will post 15.19 EPS for the current fiscal year.

Analyst Ratings Changes

ALL has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Piper Sandler raised their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Finally, BMO Capital Markets lifted their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.44.

Allstate 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.