Mirae Asset Global Investments Co. Ltd. Raises Position in The Allstate Co. (NYSE:ALL)

Mirae Asset Global Investments Co. Ltd. increased its holdings in The Allstate Co. (NYSE:ALL) by 24.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,397 shares of the insurance provider’s stock after purchasing an additional 3,200 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Allstate were worth $3,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Diversified Trust Co purchased a new position in shares of Allstate in the first quarter valued at about $226,000. State of Michigan Retirement System increased its position in shares of Allstate by 0.3% in the first quarter. State of Michigan Retirement System now owns 71,889 shares of the insurance provider’s stock valued at $12,438,000 after acquiring an additional 200 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Allstate by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock valued at $118,925,000 after acquiring an additional 6,760 shares during the period. Norden Group LLC purchased a new position in shares of Allstate in the first quarter valued at about $641,000. Finally, Kovack Advisors Inc. purchased a new position in shares of Allstate in the first quarter valued at about $229,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 1.4 %

Shares of ALL stock opened at $186.55 on Wednesday. The Allstate Co. has a 12 month low of $123.42 and a 12 month high of $198.79. The stock has a market cap of $49.23 billion, a P/E ratio of 41.18, a P/E/G ratio of 1.74 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $188.48 and a two-hundred day simple moving average of $174.85.

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. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. During the same period in the prior year, the company earned ($4.42) earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. On average, research analysts expect that The Allstate Co. will post 15.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Morgan Stanley boosted their price objective on shares of Allstate from $202.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group boosted their price objective on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.44.

Insider Transactions at Allstate

In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,530 shares of company stock valued at $34,967,665 over the last three months. Corporate insiders own 1.80% of the company’s stock.

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.