Resona Asset Management Co. Ltd. Sells 3,859 Shares of The Allstate Corporation $ALL

Resona Asset Management Co. Ltd. lowered its stake in The Allstate Corporation (NYSE:ALL) by 4.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,123 shares of the insurance provider’s stock after selling 3,859 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Allstate were worth $19,941,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its holdings in Allstate by 79.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC raised its position in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the period. Clearstead Trust LLC raised its position in shares of Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 152 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after buying an additional 126 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Allstate during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Allstate from $216.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Roth Mkm lifted their price objective on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. BMO Capital Markets increased their target price on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. TD Cowen downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.19.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the business’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 sale, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 48,400 shares of company stock worth $10,313,256 in the last 90 days. 1.70% of the stock is owned by insiders.

Allstate Stock Down 0.9%

ALL stock opened at $193.54 on Friday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The company has a market cap of $50.65 billion, a PE ratio of 6.27, a price-to-earnings-growth ratio of 0.42 and a beta of 0.24. The business’s 50-day simple moving average is $205.96 and its 200 day simple moving average is $203.32.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS 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 firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the firm posted $3.91 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s dividend payout ratio (DPR) is 12.95%.

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.