Dock Street Asset Management Inc. Holds Position in Allstate Corporation (The) (NYSE:ALL)

Dock Street Asset Management Inc. held its stake in Allstate Corporation (The) (NYSE:ALL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,228 shares of the insurance provider’s stock at the end of the second quarter. Dock Street Asset Management Inc.’s holdings in Allstate Corporation (The) were worth $462,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Allstate Corporation (The) by 2,743.3% in the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after buying an additional 25,527,763 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Allstate Corporation (The) by 246.3% in the first quarter. Victory Capital Management Inc. now owns 2,080,446 shares of the insurance provider’s stock valued at $169,536,000 after buying an additional 1,479,694 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Allstate Corporation (The) by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 3,961,953 shares of the insurance provider’s stock valued at $322,883,000 after buying an additional 1,258,952 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Allstate Corporation (The) by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 4,756,094 shares of the insurance provider’s stock valued at $387,575,000 after buying an additional 792,583 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Allstate Corporation (The) by 3.2% in the first quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock valued at $1,926,258,000 after buying an additional 733,684 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Allstate Corporation (NYSE ALL) opened at 93.95 on Friday. The company has a market cap of $33.95 billion, a price-to-earnings ratio of 13.88 and a beta of 1.10. The stock has a 50 day moving average price of $90.23 and a 200 day moving average price of $84.36. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $94.70.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Allstate Corporation will post $6.50 earnings per share for the current year.

Allstate Corporation (The) declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 63% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be given 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 dividend payout ratio (DPR) is presently 21.86%.

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Several analysts recently weighed in on ALL shares. Macquarie cut Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $78.00 to $81.00 in a report on Tuesday, April 18th. They noted that the move was a valuation call. Zacks Investment Research cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Barclays PLC dropped their price target on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. MKM Partners reissued a “buy” rating and set a $100.00 price target (up from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a report on Thursday, July 20th. One 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 company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $90.54.

In related news, insider Harriet K. Harty sold 7,228 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $88.35, for a total value of $638,593.80. Following the transaction, the insider now owns 18,260 shares of the company’s stock, valued at $1,613,271. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the completion of the transaction, the executive vice president now directly owns 73,511 shares in the company, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. Insiders sold 218,162 shares of company stock worth $19,450,439 in the last quarter. 1.58% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

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