Livforsakringsbolaget Skandia Omsesidigt continued to hold its position in shares of Allstate Corporation (The) (NYSE:ALL) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 29,525 shares of the insurance provider’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Allstate Corporation (The) were worth $2,611,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the stock. Intrust Bank NA raised its position in shares of Allstate Corporation (The) by 0.3% in the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock valued at $615,000 after buying an additional 23 shares during the period. CAPROCK Group Inc. increased its stake in Allstate Corporation (The) by 0.6% in the first quarter. CAPROCK Group Inc. now owns 4,567 shares of the insurance provider’s stock worth $372,000 after buying an additional 28 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in Allstate Corporation (The) by 1.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,709 shares of the insurance provider’s stock worth $219,000 after buying an additional 35 shares in the last quarter. Buckingham Asset Management LLC increased its stake in Allstate Corporation (The) by 1.2% in the first quarter. Buckingham Asset Management LLC now owns 3,897 shares of the insurance provider’s stock worth $318,000 after buying an additional 45 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Allstate Corporation (The) by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 4,431 shares of the insurance provider’s stock worth $350,000 after buying an additional 55 shares in the last quarter. 76.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Allstate Corporation (NYSE ALL) traded up 0.38% on Friday, reaching $94.29. The company had a trading volume of 159,114 shares. The stock has a market cap of $34.07 billion, a PE ratio of 13.93 and a beta of 1.10. Allstate Corporation has a 12 month low of $66.55 and a 12 month high of $94.44. The stock has a 50-day moving average price of $89.06 and a 200-day moving average price of $83.42.
Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.99 billion. During the same period in the previous year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that Allstate Corporation will post $6.39 earnings per share for the current fiscal year.
Allstate Corporation (The) declared that its board has approved a stock repurchase plan on Tuesday, August 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 63% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. Allstate Corporation (The)’s payout ratio is presently 21.86%.
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A number of equities research analysts recently commented on ALL shares. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a report on Thursday, June 15th. MKM Partners reiterated a “buy” rating and issued a $100.00 price objective (up previously from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Citigroup Inc. upped their price objective on Allstate Corporation (The) from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, April 7th. BidaskClub downgraded Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $91.00 price target (up from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $89.38.
In other news, insider Sanjay Gupta sold 16,798 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $86.00, for a total value of $1,444,628.00. Following the transaction, the insider now owns 65,798 shares in the company, valued at approximately $5,658,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Matthew E. Winter sold 33,957 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $84.38, for a total value of $2,865,291.66. The disclosure for this sale can be found here. Insiders sold a total of 170,677 shares of company stock worth $14,975,887 in the last 90 days. Company insiders own 1.58% of the company’s stock.
Allstate Corporation (The) Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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