Sumitomo Life Insurance Co. Sells 394 Shares of The Allstate Co. (NYSE:ALL)

Sumitomo Life Insurance Co. lowered its stake in The Allstate Co. (NYSE:ALL) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,491 shares of the insurance provider’s stock after selling 394 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Allstate were worth $1,049,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Allstate by 123.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after purchasing an additional 3,064,105 shares during the last quarter. Cowa LLC acquired a new stake in shares of Allstate in the first quarter valued at approximately $30,000. Norges Bank acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $190,865,000. Finally, Invesco Ltd. raised its holdings in shares of Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after purchasing an additional 1,311,095 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Allstate Trading Down 0.6 %

ALL stock opened at $165.76 on Tuesday. The company has a fifty day moving average price of $163.22 and a two-hundred day moving average price of $145.95. The stock has a market cap of $43.61 billion, a price-to-earnings ratio of -133.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The Allstate Co. has a one year low of $100.57 and a one year high of $174.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The company had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. Allstate’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.36) earnings per share. Equities analysts anticipate that The Allstate Co. will post 13.41 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s payout ratio is presently -296.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALL. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. TD Cowen assumed coverage on shares of Allstate in a report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 target price on the stock. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. Raymond James boosted their target price on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. Finally, Morgan Stanley boosted their target price on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $173.71.

Allstate Profile

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.