Sumitomo Mitsui Trust Group Inc. Has $126.51 Million Holdings in The Allstate Corporation $ALL

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of The Allstate Corporation (NYSE:ALL) by 5.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 610,177 shares of the insurance provider’s stock after selling 32,478 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Allstate worth $126,514,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares during the last quarter. GQG Partners LLC lifted its stake in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Boston Partners boosted its holdings in shares of Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after buying an additional 395,195 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of Allstate by 3.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares during the period. 76.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Raymond James Financial raised their price target on Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Monday. Mizuho lifted their price objective on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research note on Thursday. Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Finally, Morgan Stanley increased their target price on Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.26.

Allstate Stock Performance

NYSE ALL traded up $3.00 during midday trading on Friday, hitting $251.64. The company had a trading volume of 1,041,559 shares, compared to its average volume of 1,803,435. The firm has a fifty day simple moving average of $224.15 and a two-hundred day simple moving average of $213.01. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $257.67. 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 stock has a market cap of $64.78 billion, a price-to-earnings ratio of 5.55, a P/E/G ratio of 0.44 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business earned $3.53 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts forecast that The Allstate Corporation will post 29.84 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is 9.53%.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Mizuho raised its price target on Allstate to $272 from $255 and kept an outperform rating, signaling confidence that the stock still has upside from recent levels.
• Positive Sentiment: Several recent articles argued that Allstate looks undervalued after earnings and may benefit from a relatively favorable catastrophe year, which could help underwriting results and profits.
• Neutral Sentiment: Allstate declared a quarterly dividend of $1.08 per share, reinforcing shareholder returns but not necessarily changing the near-term trading story.
• Neutral Sentiment: Comparative coverage versus Progressive and other insurance peers kept attention on Allstate’s valuation, but this was more of a relative-stock discussion than a direct catalyst.
• Negative Sentiment: Oklahoma Attorney General Gentner Drummond sued Allstate, alleging the insurer defrauded customers, adding a fresh legal overhang that could raise compliance and settlement concerns. Article Title
• Negative Sentiment: Allstate also drew attention after accusing Broadcom of auditing it because it ended its VMware/CA relationship, another sign of ongoing legal or contractual friction. Article Title

About Allstate

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.