Mirae Asset Global Investments Co. Ltd. Buys New Position in The Allstate Corporation $ALL

by · The Markets Daily

Mirae Asset Global Investments Co. Ltd. purchased a new stake in The Allstate Corporation (NYSE:ALL – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 63,429 shares of the insurance provider’s stock, valued at approximately $14,072,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gables Capital Management Inc. bought a new stake in shares of Allstate in the second quarter valued at about $26,000. Allied Private Wealth LLC acquired a new position in Allstate during the 2nd quarter worth approximately $29,000. Kelleher Financial Advisors acquired a new position in Allstate during the 2nd quarter worth approximately $28,000. Transamerica Financial Advisors LLC acquired a new position in Allstate during the 2nd quarter worth approximately $32,000. Finally, Highland Investment Advisors LLC bought a new position in shares of Allstate during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Dugenske sold 32,996 shares of Allstate stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by corporate insiders.

Allstate Price Performance

NYSE:ALL opened at $261.55 on Wednesday. The company has a market cap of $66.14 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.58 and a beta of 0.13. The firm’s fifty day moving average price is $245.62 and its two-hundred day moving average price is $228.78. The Allstate Corporation has a one year low of $191.13 and a one year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same quarter last year, the company posted $5.94 EPS. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts expect that The Allstate Corporation will post 36.21 earnings per share for the current year.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. Argus set a $238.00 price objective on shares of Allstate in a report on Friday, August 28th. Mizuho reduced their target price on shares of Allstate from $300.00 to $295.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Citigroup decreased their target price on shares of Allstate from $240.00 to $215.00 and set a “sell” rating for the company in a research report on Friday, October 2nd. Roth Capital set a $300.00 target price on shares of Allstate in a research report on Thursday, August 6th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $315.00 price target (up from $300.00) on shares of Allstate in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Allstate has an average rating of “Hold” and a consensus target price of $270.19.

Check Out Our Latest Report on ALL

About Allstate

(Free Report)

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.

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