63,429 Shares in The Allstate Corporation $ALL Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of The Allstate Corporation (NYSE:ALL) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 63,429 shares of the insurance provider’s stock, valued at approximately $14,072,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kendall Capital Management lifted its position in shares of Allstate by 2.4% during the 3rd quarter. Kendall Capital Management now owns 1,730 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 40 shares during the period. Insight Inv LLC increased its position in shares of Allstate by 0.3% in the third quarter. Insight Inv LLC now owns 13,682 shares of the insurance provider’s stock worth $3,035,000 after purchasing an additional 44 shares during the period. Cornerstone Financial Management LLC increased its position in shares of Allstate by 24.9% in the second quarter. Cornerstone Financial Management LLC now owns 226 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 45 shares during the period. Capital Advisors Inc. OK increased its position in shares of Allstate by 2.6% in the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider’s stock worth $435,000 after purchasing an additional 46 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its stake in Allstate by 0.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,871 shares of the insurance provider’s stock valued at $1,303,000 after purchasing an additional 49 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by insiders.

Allstate Price Performance

Allstate stock opened at $261.55 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52 week low of $191.13 and a 52 week high of $277.22. The stock has a market capitalization of $66.14 billion, a P/E ratio of 5.22, a price-to-earnings-growth ratio of 0.58 and a beta of 0.13. The stock has a fifty day moving average of $245.62 and a 200-day moving average of $228.78.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the firm posted $5.94 earnings per share. Allstate’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that The Allstate Corporation will post 36.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research report on Monday, September 28th. Wells Fargo & Company upgraded shares of Allstate from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $250.00 to $236.00 in a research note on Monday, October 12th. Keefe, Bruyette & Woods decreased their target price on shares of Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a report on Monday, October 12th. The Goldman Sachs Group dropped their target price on shares of Allstate from $280.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, October 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $270.19.

Allstate 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.