Sompo Asset Management Co. Ltd. Grows Position in The Allstate Co. (NYSE:ALL)

Sompo Asset Management Co. Ltd. boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 6.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,300 shares of the insurance provider’s stock after acquiring an additional 1,000 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Allstate were worth $3,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Ascent Group LLC lifted its position in shares of Allstate by 6.1% in the first quarter. Ascent Group LLC now owns 4,618 shares of the insurance provider’s stock worth $799,000 after buying an additional 266 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Allstate during the 1st quarter valued at about $490,000. Kingdon Capital Management L.L.C. bought a new position in shares of Allstate in the 1st quarter valued at about $8,650,000. Iron Gate Global Advisors LLC increased its stake in Allstate by 15.6% during the first quarter. Iron Gate Global Advisors LLC now owns 2,234 shares of the insurance provider’s stock worth $386,000 after acquiring an additional 302 shares during the last quarter. Finally, Sweeney & Michel LLC purchased a new stake in Allstate during the first quarter valued at approximately $254,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALL has been the topic of several recent research reports. BMO Capital Markets increased their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Bank of America increased their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler boosted their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Barclays increased their price target on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $214.19.

Allstate Stock Up 0.2 %

Shares of NYSE ALL opened at $203.80 on Friday. The stock has a market capitalization of $53.97 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The Allstate Co. has a 12-month low of $134.17 and a 12-month high of $205.35. The stock’s fifty day simple moving average is $191.41 and its two-hundred day simple moving average is $177.84.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, analysts expect that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. Allstate’s payout ratio is 23.83%.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

About Allstate

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.