Lorne Steinberg Wealth Management Inc. Sells 195 Shares of The Allstate Co. (NYSE:ALL)

Lorne Steinberg Wealth Management Inc. cut its holdings in The Allstate Co. (NYSE:ALL) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,335 shares of the insurance provider’s stock after selling 195 shares during the quarter. Allstate makes up approximately 2.9% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 7th largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Allstate were worth $10,090,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $29,000. Peoples Bank KS purchased a new position in shares of Allstate during the fourth quarter valued at approximately $49,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $53,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALL shares. Barclays reduced their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley upped 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. The Goldman Sachs Group upped their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group upped their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate 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 sale, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Allstate Price Performance

Allstate stock opened at $188.66 on Wednesday. The firm has a fifty day moving average of $190.55 and a 200-day moving average of $190.03. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The firm has a market capitalization of $49.96 billion, a P/E ratio of 11.10, a PEG ratio of 1.47 and a beta of 0.52.

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, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, analysts predict that The Allstate Co. will post 18.64 EPS for the current year.

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.