Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Allstate Corp (NYSE:ALL) by 0.6% during the first quarter, HoldingsChannel reports. The fund owned 1,667,672 shares of the insurance provider’s stock after selling 10,741 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Allstate were worth $157,061,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Townsquare Capital LLC purchased a new stake in shares of Allstate in the 4th quarter worth approximately $218,000. First Interstate Bank lifted its position in shares of Allstate by 160.4% in the 4th quarter. First Interstate Bank now owns 1,505 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 927 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Allstate by 65.4% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 170,647 shares of the insurance provider’s stock worth $16,072,000 after purchasing an additional 67,490 shares during the period. Advisor Partners LLC lifted its position in shares of Allstate by 31.1% in the 1st quarter. Advisor Partners LLC now owns 16,876 shares of the insurance provider’s stock worth $1,589,000 after purchasing an additional 4,001 shares during the period. Finally, Segment Wealth Management LLC lifted its position in shares of Allstate by 11.3% in the 4th quarter. Segment Wealth Management LLC now owns 39,284 shares of the insurance provider’s stock worth $3,246,000 after purchasing an additional 3,997 shares during the period. Institutional investors and hedge funds own 80.27% of the company’s stock.
NYSE:ALL traded up $0.81 during midday trading on Tuesday, reaching $96.75. 316,176 shares of the stock traded hands, compared to its average volume of 2,068,938. Allstate Corp has a 12-month low of $77.00 and a 12-month high of $102.73. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.28 and a beta of 0.83.
Several brokerages have recently weighed in on ALL. Credit Suisse Group cut shares of Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, April 8th. Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Thursday, February 7th. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. UBS Group upped their price target on shares of Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, William Blair raised shares of Allstate from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 6th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $101.73.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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