Mirae Asset Global Investments Co. Ltd. Boosts Stake in The Allstate Co. (NYSE:ALL)

Mirae Asset Global Investments Co. Ltd. raised its position in The Allstate Co. (NYSE:ALL) by 24.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,397 shares of the insurance provider’s stock after buying an additional 3,200 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Allstate were worth $3,089,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Allstate by 1.5% in the 3rd quarter. Allworth Financial LP now owns 14,584 shares of the insurance provider’s stock valued at $2,766,000 after buying an additional 213 shares during the last quarter. Mayfair Advisory Group LLC increased its stake in shares of Allstate by 22.4% during the 3rd quarter. Mayfair Advisory Group LLC now owns 1,746 shares of the insurance provider’s stock worth $333,000 after purchasing an additional 320 shares during the last quarter. Convergence Financial LLC increased its stake in shares of Allstate by 33.8% during the 3rd quarter. Convergence Financial LLC now owns 8,722 shares of the insurance provider’s stock worth $1,654,000 after purchasing an additional 2,204 shares during the last quarter. Country Club Bank purchased a new stake in shares of Allstate during the 3rd quarter worth approximately $217,000. Finally, Joel Isaacson & Co. LLC purchased a new stake in shares of Allstate during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the subject of several research analyst reports. TD Cowen raised their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. BMO Capital Markets raised their price target on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Raymond James raised their price target on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Finally, Piper Sandler raised their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $206.44.

Insider Buying and Selling at Allstate

In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,530 shares of company stock valued at $34,967,665 in the last three months. Company insiders own 1.80% of the company’s stock.

Allstate Stock Down 1.4 %

Shares of NYSE:ALL opened at $186.55 on Wednesday. The firm has a fifty day moving average price of $188.48 and a two-hundred day moving average price of $174.85. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a one year low of $123.42 and a one year high of $198.79. The company has a market cap of $49.23 billion, a price-to-earnings ratio of 41.18, a PEG ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same period last year, the firm earned ($4.42) EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Analysts anticipate that The Allstate Co. will post 15.19 EPS for the current fiscal year.

About Allstate

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.