Strycker View Capital LLC raised its stake in Allstate Corporation (The) (NYSE:ALL) by 31.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 207,998 shares of the insurance provider’s stock after buying an additional 50,000 shares during the period. Allstate Corporation (The) accounts for 9.2% of Strycker View Capital LLC’s holdings, making the stock its 3rd largest position. Strycker View Capital LLC owned 0.06% of Allstate Corporation (The) worth $18,395,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of ALL. Stoneridge Investment Partners LLC boosted its position in shares of Allstate Corporation (The) by 2.3% in the second quarter. Stoneridge Investment Partners LLC now owns 77,114 shares of the insurance provider’s stock valued at $6,820,000 after buying an additional 1,709 shares during the period. Global X Management Co. LLC boosted its position in shares of Allstate Corporation (The) by 22.2% in the second quarter. Global X Management Co. LLC now owns 9,577 shares of the insurance provider’s stock valued at $847,000 after buying an additional 1,741 shares during the period. Pioneer Investment Management Inc. boosted its position in shares of Allstate Corporation (The) by 36.5% in the second quarter. Pioneer Investment Management Inc. now owns 111,658 shares of the insurance provider’s stock valued at $9,875,000 after buying an additional 29,853 shares during the period. BP PLC boosted its position in shares of Allstate Corporation (The) by 119.6% in the second quarter. BP PLC now owns 101,000 shares of the insurance provider’s stock valued at $8,932,000 after buying an additional 55,000 shares during the period. Finally, Advisor Partners LLC boosted its position in shares of Allstate Corporation (The) by 9.9% in the second quarter. Advisor Partners LLC now owns 9,601 shares of the insurance provider’s stock valued at $849,000 after buying an additional 864 shares during the period. 76.91% of the stock is owned by hedge funds and other institutional investors.
Allstate Corporation (NYSE ALL) opened at 94.42 on Tuesday. The company’s 50-day moving average is $90.41 and its 200-day moving average is $84.63. The firm has a market capitalization of $34.12 billion, a price-to-earnings ratio of 13.95 and a beta of 1.10. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $94.83.
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, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The firm had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same period last year, the firm posted $0.62 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts predict that Allstate Corporation will post $6.50 earnings per share for the current year.
Allstate Corporation (The) announced that its board has initiated a stock buyback program on Tuesday, August 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 63% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.
ILLEGAL ACTIVITY NOTICE: This report was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://stocknewstimes.com/2017/08/15/allstate-corporation-the-all-stake-increased-by-strycker-view-capital-llc.html.
Several research analysts recently issued reports on the stock. Barclays PLC raised their target price on shares of Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday. Deutsche Bank AG cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and raised their target price for the stock from $90.00 to $96.00 in a report on Tuesday, August 8th. UBS AG reissued a “neutral” rating and set a $94.00 target price (up previously from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. Finally, BidaskClub cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One investment 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. The company currently has a consensus rating of “Hold” and a consensus target price of $90.54.
In other Allstate Corporation (The) news, insider Harriet K. Harty sold 7,228 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $88.35, for a total transaction of $638,593.80. Following the sale, the insider now directly owns 18,260 shares of the company’s stock, valued at approximately $1,613,271. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan L. Lees sold 12,288 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $94.09, for a total transaction of $1,156,177.92. Following the sale, the executive vice president now directly owns 73,511 shares in the company, valued at $6,916,649.99. The disclosure for this sale can be found here. Insiders have sold a total of 184,205 shares of company stock worth $16,585,147 over the last ninety days. 1.58% of the stock is owned by corporate 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.
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.
