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

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in The Allstate Corporation (NYSE:ALL) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,944 shares of the insurance provider’s stock after acquiring an additional 2,740 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Allstate were worth $9,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ALL. New Wave Wealth Advisors LLC raised its holdings in shares of Allstate by 1.9% during the third quarter. New Wave Wealth Advisors LLC now owns 3,599 shares of the insurance provider’s stock worth $851,000 after purchasing an additional 68 shares during the period. IFP Advisors Inc boosted its holdings in shares of Allstate by 192.3% in the 3rd quarter. IFP Advisors Inc now owns 14,198 shares of the insurance provider’s stock valued at $3,150,000 after buying an additional 9,341 shares during the period. Elevated Financial Group LLC boosted its holdings in shares of Allstate by 9.1% in the 3rd quarter. Elevated Financial Group LLC now owns 3,516 shares of the insurance provider’s stock valued at $780,000 after buying an additional 293 shares during the period. Burns Matteson Capital Management LLC acquired a new position in shares of Allstate in the 3rd quarter valued at about $609,000. Finally, Frank Rimerman Advisors LLC grew its position in shares of Allstate by 37.5% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,465 shares of the insurance provider’s stock valued at $1,360,000 after buying an additional 1,762 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALL has been the topic of several research reports. Mizuho dropped their price objective on shares of Allstate from $300.00 to $295.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 7th. Wall Street Zen raised shares of Allstate from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Citigroup decreased their target price on Allstate from $240.00 to $215.00 and set a “sell” rating for the company in a research note on Friday, October 2nd. Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Wednesday, October 14th. Finally, Jefferies Financial Group lowered their target price on Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Hold” and a consensus price target of $270.19.

Allstate Stock Up 0.4%

ALL opened at $250.98 on Thursday. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $63.46 billion, a P/E ratio of 5.01, a P/E/G ratio of 0.55 and a beta of 0.13. The stock’s 50 day moving average price is $245.98 and its 200 day moving average price is $236.15.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the previous year, the firm posted $5.94 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, research analysts predict that The Allstate Corporation will post 36.21 earnings per share for the current year.

Insiders Place Their Bets

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

Allstate 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.