Sompo Asset Management Co. Ltd. Cuts Stock Position in The Allstate Co. (NYSE:ALL)

Sompo Asset Management Co. Ltd. decreased its holdings in The Allstate Co. (NYSE:ALL) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,300 shares of the insurance provider’s stock after selling 1,370 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Allstate were worth $2,443,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in Allstate in the 1st quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the first quarter valued at $26,000. Versant Capital Management Inc grew its stake in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. purchased a new stake in Allstate during the 2nd quarter worth about $38,000. Finally, MCF Advisors LLC raised its position in 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 and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of Allstate stock opened at $191.00 on Friday. The stock has a market capitalization of $50.41 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 1.74 and a beta of 0.48. The firm’s fifty day simple moving average is $179.42 and its 200-day simple moving average is $170.17. 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 12 month low of $109.01 and a 12 month high of $193.19.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.42) earnings per share. As a group, equities analysts forecast that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is currently 81.24%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALL. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. TD Cowen raised their price objective on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Bank of America raised their price target on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods upped their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Insider Buying and Selling

In related news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Toohey sold 16,682 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock valued at $36,122,740 over the last three months. 1.80% of the stock is currently owned by company insiders.

Allstate 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.