Mirae Asset Global Investments Co. Ltd. Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Mirae Asset Global Investments Co. Ltd. lessened its stake in The Allstate Co. (NYSE:ALL) by 21.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 72,843 shares of the insurance provider’s stock after selling 19,765 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Allstate were worth $10,197,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Ellsworth Advisors LLC purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $4,312,000. SteelPeak Wealth LLC increased its stake in Allstate by 175.2% during the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after acquiring an additional 9,984 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Allstate by 484.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after purchasing an additional 275,319 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Allstate by 88.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock valued at $3,429,000 after purchasing an additional 11,512 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Allstate during the 3rd quarter worth $2,389,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on ALL shares. TD Cowen began coverage on shares of Allstate in a report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price objective on the stock. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Evercore ISI upped their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday. Roth Mkm lifted their price objective on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $172.59.

Allstate Stock Up 0.7 %

Shares of NYSE:ALL opened at $166.81 on Friday. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $174.57. The firm’s 50 day moving average price is $163.04 and its 200 day moving average price is $145.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock has a market cap of $43.88 billion, a price-to-earnings ratio of -134.52, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. The firm had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.36) earnings per share. As a group, equities research analysts predict that The Allstate Co. will post 13.41 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.21%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is -296.77%.

Allstate Profile

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.