Sumitomo Life Insurance Co. Has $1.25 Million Stock Position in The Allstate Co. (NYSE:ALL)

Sumitomo Life Insurance Co. boosted its stake in The Allstate Co. (NYSE:ALL) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 6,567 shares of the insurance provider’s stock after purchasing an additional 61 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Allstate were worth $1,245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ALL. Rise Advisors LLC bought a new position in Allstate in the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in Allstate in the first quarter valued at approximately $26,000. Versant Capital Management Inc raised its position in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. bought a new stake in Allstate during the second quarter worth $38,000. Finally, MCF Advisors LLC boosted its holdings in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Elizabeth Brady sold 49,481 shares of the business’s 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 transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,530 shares of company stock worth $34,967,665. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $195.64 on Thursday. The firm has a market cap of $51.63 billion, a P/E ratio of 43.19, a P/E/G ratio of 1.74 and a beta of 0.48. The stock’s 50 day moving average is $185.67 and its 200 day moving average is $173.49. 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 $121.70 and a one year high of $195.87.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same period in the prior year, the firm posted ($4.42) EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts expect that The Allstate Co. will post 15.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALL shares. Jefferies Financial Group boosted their price target on Allstate from $217.00 to $231.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Piper Sandler raised their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. The Goldman Sachs Group upped their price objective on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Bank of America cut their target price on shares of Allstate from $226.00 to $216.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.06.

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.