Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in The Allstate Co. (NYSE:ALL)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 687,386 shares of the insurance provider’s stock after purchasing an additional 6,760 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Allstate worth $118,925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ALL. State of Michigan Retirement System lifted its position in shares of Allstate by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 71,889 shares of the insurance provider’s stock valued at $12,438,000 after buying an additional 200 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Allstate by 145.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 315,083 shares of the insurance provider’s stock valued at $54,512,000 after purchasing an additional 186,897 shares in the last quarter. Diversified Trust Co bought a new position in shares of Allstate in the first quarter worth approximately $226,000. Aviance Capital Partners LLC increased its stake in shares of Allstate by 14.1% in the first quarter. Aviance Capital Partners LLC now owns 6,448 shares of the insurance provider’s stock worth $1,116,000 after purchasing an additional 797 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its position in shares of Allstate by 6.1% during the 1st quarter. Kathmere Capital Management LLC now owns 6,523 shares of the insurance provider’s stock valued at $1,129,000 after purchasing an additional 377 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $194.00 target price on shares of Allstate in a report on Friday, June 21st. Wells Fargo & Company upped their price objective on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Evercore ISI boosted their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley increased their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Roth Mkm boosted their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $174.88.

Allstate Price Performance

Allstate stock opened at $159.43 on Thursday. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $165.27 and a 200-day moving average price of $160.48. The firm has a market capitalization of $42.08 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.30) earnings per share. As a group, equities research analysts forecast that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, May 31st. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Allstate Company Profile

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.