Sumitomo Mitsui Trust Group Inc. Sells 51,388 Shares of The Allstate Corporation $ALL

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of The Allstate Corporation (NYSE:ALL) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 658,419 shares of the insurance provider’s stock after selling 51,388 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Allstate were worth $132,546,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALL. Caitong International Asset Management Co. Ltd increased its holdings in shares of Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 126 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Allstate by 0.9% during the second quarter. Asset Management One Co. Ltd. now owns 116,780 shares of the insurance provider’s stock worth $23,509,000 after purchasing an additional 1,017 shares during the period. R Squared Ltd acquired a new position in Allstate during the second quarter valued at approximately $629,000. AlTi Global Inc. raised its position in shares of Allstate by 106.3% in the second quarter. AlTi Global Inc. now owns 2,238 shares of the insurance provider’s stock valued at $451,000 after purchasing an additional 1,153 shares during the period. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Allstate in the second quarter worth $612,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Down 0.6%

Shares of Allstate stock opened at $193.37 on Friday. The company’s fifty day moving average price is $204.27 and its two-hundred day moving average price is $201.08. The firm has a market capitalization of $50.95 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.70 and a beta of 0.38. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. Barclays reiterated an “underweight” rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Roth Capital set a $230.00 target price on Allstate and gave the company a “buy” rating in a report on Friday, September 26th. Cantor Fitzgerald upgraded Allstate to a “hold” rating in a report on Wednesday, August 13th. Finally, Citigroup raised Allstate to a “hold” rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.27.

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.