Comerica Bank decreased its position in shares of Allstate Corp (NYSE:ALL) by 2.6% during the 4th quarter, HoldingsChannel reports. The firm owned 114,606 shares of the insurance provider’s stock after selling 3,043 shares during the quarter. Comerica Bank’s holdings in Allstate were worth $11,446,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Kovack Advisors Inc. bought a new stake in Allstate during the fourth quarter worth approximately $212,000. Boston Partners grew its position in Allstate by 2.5% in the fourth quarter. Boston Partners now owns 8,921,194 shares of the insurance provider’s stock worth $934,138,000 after buying an additional 215,195 shares during the last quarter. Arlington Financial Advisors LLC acquired a new position in Allstate in the fourth quarter worth approximately $302,000. Engineers Gate Manager LP grew its position in Allstate by 160.6% in the fourth quarter. Engineers Gate Manager LP now owns 35,580 shares of the insurance provider’s stock worth $3,726,000 after buying an additional 21,927 shares during the last quarter. Finally, Highstreet Asset Management Inc. grew its position in Allstate by 230.3% in the fourth quarter. Highstreet Asset Management Inc. now owns 20,892 shares of the insurance provider’s stock worth $2,188,000 after buying an additional 14,566 shares during the last quarter. 76.89% of the stock is currently owned by hedge funds and other institutional investors.
Allstate Corp (NYSE ALL) opened at $95.02 on Tuesday. Allstate Corp has a 52-week low of $76.97 and a 52-week high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market cap of $35,143.42, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.45 and a beta of 0.97.
In other news, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 130,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $99.29, for a total transaction of $12,907,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 432,242 shares of company stock worth $42,827,931. Corporate insiders own 1.50% of the company’s stock.
Several research analysts have issued reports on the stock. ValuEngine upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Friday. B. Riley restated a “neutral” rating on shares of Allstate in a research report on Monday, November 6th. Wells Fargo & Co restated a “buy” rating and issued a $105.00 price target on shares of Allstate in a research report on Thursday, November 2nd. UBS Group lifted their price target on shares of Allstate from $93.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Finally, Credit Suisse Group lifted their price target on shares of Allstate from $91.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $96.43.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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