Sumitomo Mitsui Trust Group Inc. Purchases 12,162 Shares of The Allstate Co. (NYSE:ALL)

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. lifted its holdings in The Allstate Co. (NYSE:ALL – Free Report) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 650,381 shares of the insurance provider’s stock after buying an additional 12,162 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Allstate were worth $123,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Allspring Global Investments Holdings LLC lifted its stake in Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares during the period. Raymond James & Associates grew its holdings in Allstate by 10.6% in the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after purchasing an additional 145,986 shares during the period. Dimensional Fund Advisors LP increased its stake in Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after purchasing an additional 47,038 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after purchasing an additional 1,047,019 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after purchasing an additional 31,789 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In related news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research reports. Jefferies Financial Group upped their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Evercore ISI increased their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. UBS Group boosted their price target on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Bank of America raised their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Piper Sandler boosted their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. One investment 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.56.

Check Out Our Latest Stock Report on Allstate

Allstate Price Performance

ALL opened at $197.30 on Thursday. The Allstate Co. has a fifty-two week low of $129.18 and a fifty-two week high of $201.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $52.25 billion, a P/E ratio of 12.78, a PEG ratio of 1.77 and a beta of 0.48. The firm has a 50-day moving average of $189.43 and a 200 day moving average of $176.25.

Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 EPS. On average, research analysts expect that The Allstate Co. will post 16.02 EPS for the current year.

Allstate Company Profile

(Free Report)

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.

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