Resona Asset Management Co. Ltd. Has $19.94 Million Stock Position in The Allstate Corporation $ALL

Resona Asset Management Co. Ltd. cut its stake in The Allstate Corporation (NYSE:ALL) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,123 shares of the insurance provider’s stock after selling 3,859 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Allstate were worth $19,941,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Allstate in the second quarter valued at $482,870,000. Swedbank AB boosted its stake in shares of Allstate by 2,157.8% in the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after purchasing an additional 823,559 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after purchasing an additional 478,598 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after purchasing an additional 435,145 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Allstate during the 2nd quarter valued at about $68,590,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALL. Mizuho set a $255.00 price objective on shares of Allstate in a research note on Wednesday, January 14th. BMO Capital Markets increased their price target on Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. The Goldman Sachs Group set a $227.00 price objective on Allstate in a research note on Wednesday, January 7th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $215.00 target price (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $236.19.

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is currently owned by company insiders.

Allstate Stock Down 0.9%

Shares of ALL opened at $193.54 on Friday. The business’s fifty day moving average price is $205.96 and its two-hundred day moving average price is $203.32. The firm has a market capitalization of $50.65 billion, a price-to-earnings ratio of 6.27, a PEG ratio of 0.42 and a beta of 0.24. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.91 earnings per share. On average, analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s dividend payout ratio (DPR) is 12.95%.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.