Mirae Asset Global Investments Co. Ltd. Acquires 4,533 Shares of The Allstate Corporation (NYSE:ALL)

Mirae Asset Global Investments Co. Ltd. boosted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 20.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,165 shares of the insurance provider's stock after purchasing an additional 4,533 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Allstate were worth $5,608,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ALL. VSM Wealth Advisory LLC purchased a new stake in Allstate during the fourth quarter valued at approximately $25,000. Twin Tree Management LP bought a new stake in shares of Allstate during the 4th quarter valued at $27,000. Vision Financial Markets LLC bought a new stake in shares of Allstate during the 4th quarter valued at $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of Allstate in the 4th quarter worth $29,000. Finally, Kapitalo Investimentos Ltda bought a new position in Allstate in the 4th quarter worth $29,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of NYSE:ALL traded up $2.03 during midday trading on Thursday, reaching $196.72. 963,005 shares of the company were exchanged, compared to its average volume of 1,633,683. The stock has a market cap of $52.09 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The business's fifty day moving average is $201.26 and its two-hundred day moving average is $196.57. The Allstate Corporation has a one year low of $157.50 and a one year high of $213.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.13 EPS. As a group, analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 9th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Monday, June 9th. Allstate's payout ratio is presently 27.32%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALL. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. William Blair started coverage on Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Morgan Stanley raised their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

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.