30,328 Shares in The Allstate Corporation $ALL Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in The Allstate Corporation (NYSE:ALL) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 30,328 shares of the insurance provider’s stock, valued at approximately $6,510,000.

Several other hedge funds also recently modified their holdings of ALL. Harbor Capital Advisors Inc. grew its holdings in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC boosted its position in Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Clearstead Trust LLC grew its stake in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 152 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Allstate by 315.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 126 shares during the period. Finally, Hilltop National Bank acquired a new position in Allstate in the 2nd quarter valued at $34,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

ALL stock opened at $195.35 on Friday. The company has a market cap of $51.12 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.42 and a beta of 0.24. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $206.38 and a two-hundred day moving average price of $203.25. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89.

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

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, December 1st. Allstate’s payout ratio is currently 12.95%.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 48,400 shares of company stock valued at $10,313,256 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALL. Keefe, Bruyette & Woods raised their price objective on Allstate from $250.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Mizuho set a $255.00 target price on Allstate in a research report on Wednesday, January 14th. BMO Capital Markets raised their price target on Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, TD Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.19.

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.