Mirae Asset Global Investments Co. Ltd. Has $8.44 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Mirae Asset Global Investments Co. Ltd. boosted its position in The Allstate Co. (NYSE:ALLGet Rating) by 9.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,925 shares of the insurance provider’s stock after buying an additional 5,407 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Allstate were worth $8,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cowa LLC bought a new stake in Allstate in the 1st quarter valued at about $30,000. US Asset Management LLC bought a new stake in Allstate in the 1st quarter valued at about $32,000. MCF Advisors LLC bought a new stake in Allstate in the 1st quarter valued at about $34,000. Chilton Capital Management LLC bought a new stake in Allstate in the 4th quarter valued at about $35,000. Finally, Concorde Financial Corp bought a new stake in Allstate in the 4th quarter valued at about $36,000. 76.17% of the stock is owned by institutional investors.

Insider Transactions at Allstate

In related news, EVP Mark Q. Prindiville sold 5,511 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $125.93, for a total value of $694,000.23. Following the transaction, the executive vice president now owns 15,552 shares of the company’s stock, valued at $1,958,463.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays decreased their price objective on Allstate from $123.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, August 8th. Evercore ISI boosted their price objective on Allstate to $126.00 in a report on Tuesday, August 9th. Raymond James decreased their price objective on Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. Wells Fargo & Company decreased their price objective on Allstate from $116.00 to $110.00 and set an “underweight” rating for the company in a report on Thursday, July 21st. Finally, TheStreet raised Allstate from a “c+” rating to a “b-” rating in a report on Friday, September 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Allstate Price Performance

Allstate stock opened at $130.08 on Wednesday. The Allstate Co. has a 12 month low of $106.11 and a 12 month high of $144.46. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $123.04 and its 200 day simple moving average is $128.37. The company has a market cap of $35.16 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 4.38 and a beta of 0.71.

Allstate (NYSE:ALLGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported ($0.76) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.50. Allstate had a return on equity of 7.53% and a net margin of 1.99%. The business had revenue of $12.95 billion for the quarter, compared to the consensus estimate of $12.16 billion. During the same quarter in the prior year, the business earned $3.79 earnings per share. Sell-side analysts forecast that The Allstate Co. will post 4.79 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be issued a $0.85 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.61%. Allstate’s payout ratio is currently 118.47%.

Allstate Profile

(Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

Featured Articles

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.