The Allstate Corporation $ALL Stock Position Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in The Allstate Corporation (NYSE:ALL) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 579,182 shares of the insurance provider’s stock after selling 16,160 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Allstate worth $128,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Allstate in the 3rd quarter valued at $14,072,000. Profund Advisors LLC increased its position in Allstate by 9.2% during the 3rd quarter. Profund Advisors LLC now owns 2,356 shares of the insurance provider’s stock worth $523,000 after buying an additional 199 shares during the period. Vise Technologies Inc. acquired a new stake in shares of Allstate during the third quarter worth $7,874,000. Investment Partners LTD. lifted its holdings in shares of Allstate by 9.6% during the third quarter. Investment Partners LTD. now owns 2,270 shares of the insurance provider’s stock worth $504,000 after buying an additional 199 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its position in shares of Allstate by 1.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 9,726 shares of the insurance provider’s stock valued at $2,158,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE ALL opened at $264.32 on Tuesday. The firm’s 50 day simple moving average is $245.60 and its 200 day simple moving average is $228.45. The firm has a market capitalization of $66.84 billion, a price-to-earnings ratio of 5.28, a P/E/G ratio of 0.55 and a beta of 0.13. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 1 year low of $188.15 and a 1 year high of $277.22.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Allstate from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $250.00 to $236.00 in a research note on Monday, October 12th. Citigroup dropped their price objective on shares of Allstate from $240.00 to $215.00 and set a “sell” rating for the company in a research note on Friday, October 2nd. Barclays decreased their target price on shares of Allstate from $226.00 to $221.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods dropped their price target on shares of Allstate from $250.00 to $232.00 and set an “underperform” rating for the company in a research report on Monday, October 12th. Finally, Morgan Stanley cut their price target on Allstate from $265.00 to $240.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $270.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 32,996 shares of the business’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 completion of the transaction, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, 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. Company insiders own 1.55% of the company’s stock.

Allstate Company 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.