Sumitomo Life Insurance Co. Has $1.23 Million Holdings in The Allstate Co. (NYSE:ALL)

Sumitomo Life Insurance Co. decreased its position in The Allstate Co. (NYSE:ALL) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,373 shares of the insurance provider’s stock after selling 194 shares during the period. Sumitomo Life Insurance Co.’s holdings in Allstate were worth $1,229,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in shares of Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after purchasing an additional 126,922 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Allstate by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after acquiring an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after acquiring an additional 472,040 shares during the period. Raymond James & Associates raised its position in shares of Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after purchasing an additional 145,986 shares during the period. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America boosted their price objective on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. BMO Capital Markets lifted their target price on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group increased their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Price Performance

Shares of ALL opened at $191.10 on Thursday. The company has a market capitalization of $50.60 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The Allstate Co. has a twelve month low of $153.42 and a twelve month high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $194.46 and a 200 day moving average of $188.07.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Allstate Co. will post 16.83 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s dividend payout ratio is currently 23.83%.

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.