Resona Asset Management Co. Ltd. Sells 3,217 Shares of The Allstate Corporation $ALL

Resona Asset Management Co. Ltd. decreased its position in The Allstate Corporation (NYSE:ALL) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 89,906 shares of the insurance provider’s stock after selling 3,217 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Allstate were worth $18,722,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after purchasing an additional 822,583 shares during the last quarter. Woodline Partners LP bought a new position in Allstate in the 3rd quarter valued at $148,641,000. AustralianSuper Pty Ltd raised its position in Allstate by 80.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,220,984 shares of the insurance provider’s stock valued at $254,148,000 after purchasing an additional 544,874 shares during the last quarter. Ameriprise Financial Inc. raised its position in Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after purchasing an additional 478,598 shares during the last quarter. Finally, Danske Bank A S bought a new position in Allstate in the 3rd quarter valued at $100,596,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALL shares. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Barclays lifted their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. boosted their target price on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods boosted their target price on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate Trading Up 1.4%

ALL stock opened at $224.36 on Wednesday. The company has a market cap of $57.75 billion, a P/E ratio of 4.95, a PEG ratio of 0.40 and a beta of 0.21. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $227.62. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $211.62 and a 200-day moving average of $207.62.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.53 earnings per share. As a group, equities research analysts expect that The Allstate Corporation will post 29.22 EPS for the current year.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.55% of the company’s stock.

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.