Skandinaviska Enskilda Banken AB publ bought a new position in Allstate Corporation (The) (NYSE:ALL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 57,727 shares of the insurance provider’s stock, valued at approximately $4,704,000.
Other institutional investors also recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Allstate Corporation (The) by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 319,038 shares of the insurance provider’s stock valued at $25,998,000 after buying an additional 6,719 shares during the period. F&V Capital Management LLC boosted its stake in shares of Allstate Corporation (The) by 2.1% in the first quarter. F&V Capital Management LLC now owns 84,470 shares of the insurance provider’s stock valued at $6,883,000 after buying an additional 1,705 shares during the period. Private Asset Management Inc. boosted its stake in shares of Allstate Corporation (The) by 14.3% in the first quarter. Private Asset Management Inc. now owns 48,160 shares of the insurance provider’s stock valued at $3,925,000 after buying an additional 6,013 shares during the period. Highbridge Capital Management LLC purchased a new stake in Allstate Corporation (The) during the fourth quarter worth about $405,000. Finally, Searle & CO. purchased a new stake in Allstate Corporation (The) during the fourth quarter worth about $411,000. Institutional investors and hedge funds own 77.04% of the company’s stock.
Allstate Corporation (NYSE ALL) opened at 94.21 on Wednesday. The firm has a market capitalization of $34.04 billion, a P/E ratio of 13.92 and a beta of 1.10. The stock has a 50 day moving average price of $89.51 and a 200 day moving average price of $83.65. Allstate Corporation has a one year low of $66.55 and a one year high of $94.49.
Allstate Corporation (The) (NYSE:ALL) last posted its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. Allstate Corporation (The)’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, equities analysts predict that Allstate Corporation will post $6.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio (DPR) is presently 21.86%.
Allstate Corporation (The) announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to buy up to 63% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of analysts recently issued reports on ALL shares. Macquarie cut Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $78.00 to $81.00 in a research report on Tuesday, April 18th. They noted that the move was a valuation call. Zacks Investment Research lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Barclays PLC cut their target price on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, July 3rd. MKM Partners restated a “buy” rating and set a $100.00 target price (up from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $89.38.
In other news, CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $94.28, for a total value of $3,318,373.16. Following the transaction, the chief financial officer now owns 127,560 shares of the company’s stock, valued at approximately $12,026,356.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Matthew E. Winter sold 33,957 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $84.38, for a total transaction of $2,865,291.66. The disclosure for this sale can be found here. Insiders have sold a total of 218,162 shares of company stock worth $19,450,439 in the last ninety days. 1.58% of the stock is currently owned by insiders.
About Allstate Corporation (The)
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.
Receive News & Ratings for Allstate Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.
