Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,740 Shares of The Allstate Corporation $ALL

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of The Allstate Corporation (NYSE:ALL) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,944 shares of the insurance provider’s stock after buying an additional 2,740 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Allstate were worth $9,528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Allstate in the 2nd quarter worth $5,439,448,000. Bank of America Corp DE purchased a new stake in Allstate during the second quarter valued at about $1,410,362,000. GQG Partners LLC purchased a new stake in Allstate during the second quarter valued at about $1,245,710,000. Deutsche Bank AG purchased a new stake in Allstate during the second quarter valued at about $1,008,648,000. Finally, Legal & General Group Plc acquired a new stake in Allstate during the second quarter worth about $455,302,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of ALL opened at $250.98 on Thursday. The firm has a market cap of $63.46 billion, a price-to-earnings ratio of 5.01, a PEG ratio of 0.55 and a beta of 0.13. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $245.98 and its two-hundred day moving average is $236.15. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.94 earnings per share. Analysts forecast that The Allstate Corporation will post 36.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Allstate from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $250.00 to $236.00 in a research report on Monday, October 12th. Evercore boosted their price objective on shares of Allstate from $240.00 to $262.00 in a research note on Thursday, October 8th. Weiss Ratings raised shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research report on Wednesday, October 14th. Citigroup dropped their price objective on shares of Allstate from $240.00 to $215.00 and set a “sell” rating for the company in a research report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods cut their target price on shares of Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a research note on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $270.19.

Allstate Company Profile

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.