Mirae Asset Global Investments Co. Ltd. Sells 7,612 Shares of The Allstate Co. (NYSE:ALL)

Mirae Asset Global Investments Co. Ltd. decreased its stake in The Allstate Co. (NYSE:ALLFree Report) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,231 shares of the insurance provider’s stock after selling 7,612 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Allstate were worth $11,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Confluence Wealth Services Inc. lifted its holdings in shares of Allstate by 0.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock worth $1,306,000 after acquiring an additional 65 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Allstate by 1.6% during the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after buying an additional 66 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after buying an additional 71 shares during the period. SVB Wealth LLC lifted its stake in shares of Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after acquiring an additional 72 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.6 %

Shares of NYSE:ALL opened at $158.43 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $41.81 billion, a P/E ratio of 34.97, a P/E/G ratio of 1.86 and a beta of 0.48. The business’s 50-day moving average is $164.52 and its 200 day moving average is $160.93. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $177.37.

Allstate (NYSE:ALLGet Free Report) last released its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.30) EPS. On average, research analysts predict that The Allstate Co. will post 12.15 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, May 31st were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 2.32%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Roth Mkm boosted their target price on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Evercore ISI upped their target price on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and raised their target price for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Piper Sandler increased their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $174.88.

Get Our Latest Stock Analysis on Allstate

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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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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