Mirae Asset Global Investments Co. Ltd. Sells 3,952 Shares of The Allstate Co. (NYSE:ALL)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,181 shares of the insurance provider’s stock after selling 3,952 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Allstate were worth $8,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ALL. Accurate Wealth Management LLC purchased a new stake in shares of Allstate in the fourth quarter valued at approximately $27,000. Cowa LLC purchased a new stake in shares of Allstate in the first quarter valued at approximately $30,000. Standard Family Office LLC purchased a new stake in shares of Allstate in the third quarter valued at approximately $37,000. CI Investments Inc. boosted its holdings in shares of Allstate by 981.8% in the third quarter. CI Investments Inc. now owns 357 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 324 shares during the period. Finally, New England Capital Financial Advisors LLC purchased a new stake in shares of Allstate in the fourth quarter valued at approximately $46,000. Institutional investors own 77.48% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $117.78 on Monday. The Allstate Co. has a 12 month low of $103.20 and a 12 month high of $142.15. The stock has a fifty day moving average price of $113.83 and a 200-day moving average price of $125.68. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.55. The firm has a market cap of $30.96 billion, a PE ratio of -13.28, a P/E/G ratio of 4.24 and a beta of 0.58.

Allstate (NYSE:ALL – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The insurance provider reported ($1.30) EPS for the quarter, beating the consensus estimate of ($1.94) by $0.64. Allstate had a negative return on equity of 7.77% and a negative net margin of 4.33%. The firm had revenue of $13.79 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts predict that The Allstate Co. will post 3.6 earnings per share for the current fiscal year.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 29,451 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $134.18, for a total value of $3,951,735.18. Following the transaction, the chief financial officer now directly owns 16,668 shares of the company’s stock, valued at approximately $2,236,512.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America boosted their price target on Allstate from $146.00 to $149.00 and gave the company a “buy” rating in a report on Thursday. William Blair upgraded Allstate from a “market perform” rating to an “outperform” rating in a report on Monday, April 3rd. BMO Capital Markets lowered their target price on Allstate from $130.00 to $120.00 and set a “market perform” rating for the company in a report on Wednesday, March 29th. Barclays lowered their target price on Allstate from $125.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, April 12th. Finally, Piper Sandler upped their target price on Allstate from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, April 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.31.

Allstate Profile

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.