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

Resona Asset Management Co. Ltd. lessened its stake in The Allstate Corporation (NYSE:ALL) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in shares of Allstate by 3.8% in the fourth quarter. ProShare Advisors LLC now owns 63,504 shares of the insurance provider’s stock worth $13,218,000 after acquiring an additional 2,319 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Allstate by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 52,294 shares of the insurance provider’s stock worth $10,885,000 after acquiring an additional 1,456 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Allstate by 2.1% in the fourth quarter. Pathway Financial Advisers LLC now owns 5,969 shares of the insurance provider’s stock worth $1,242,000 after acquiring an additional 125 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Allstate by 3.6% in the fourth quarter. TD Private Client Wealth LLC now owns 3,595 shares of the insurance provider’s stock worth $748,000 after acquiring an additional 124 shares in the last quarter. Finally, North Dakota State Investment Board bought a new stake in shares of Allstate in the fourth quarter worth about $1,884,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other 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 transaction 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 $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.55% of the stock is owned by corporate insiders.

Allstate Stock Up 1.4%

ALL stock opened at $224.36 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $57.75 billion, a P/E ratio of 4.95, a P/E/G ratio of 0.40 and a beta of 0.21. The business has a 50-day moving average of $211.62 and a 200-day moving average of $207.62. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.53 earnings per share. On average, sell-side analysts anticipate that The Allstate Corporation will post 29.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho lowered their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Piper Sandler increased their price target on Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate 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.