GAM Holding AG increased its stake in Allstate Corporation (The) (NYSE:ALL) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 51,245 shares of the insurance provider’s stock after buying an additional 407 shares during the period. GAM Holding AG’s holdings in Allstate Corporation (The) were worth $4,532,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in ALL. FNY Partners Fund LP bought a new stake in Allstate Corporation (The) during the first quarter valued at about $122,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Allstate Corporation (The) by 8.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock worth $126,000 after buying an additional 122 shares during the period. Oakworth Capital Inc. boosted its position in shares of Allstate Corporation (The) by 505.8% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the insurance provider’s stock worth $145,000 after buying an additional 1,482 shares during the period. Howard Hughes Medical Institute acquired a new position in shares of Allstate Corporation (The) during the first quarter worth $160,000. Finally, Watermark Asset Management Inc. acquired a new position in shares of Allstate Corporation (The) during the first quarter worth $170,000. 76.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Allstate Corporation (NYSE:ALL) opened at 92.02 on Friday. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. The firm’s 50-day moving average is $91.52 and its 200 day moving average is $85.59. The company has a market cap of $33.25 billion, a price-to-earnings ratio of 13.59 and a beta of 1.10.
Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. Equities analysts expect that Allstate Corporation will post $6.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.61%. Allstate Corporation (The)’s dividend payout ratio (DPR) is presently 21.86%.
Allstate Corporation (The) announced that its board has authorized a share repurchase plan on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 63% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research report on Thursday, August 17th. Deutsche Bank AG cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price target for the company from $90.00 to $96.00 in a research report on Tuesday, August 8th. Barclays PLC lifted their price target on shares of Allstate Corporation (The) from $101.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally, UBS AG reaffirmed a “neutral” rating and set a $94.00 price target (up from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Allstate Corporation (The) currently has a consensus rating of “Hold” and an average target price of $90.54.
In other news, President Matthew E. Winter sold 48,058 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $88.81, for a total transaction of $4,268,030.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of the company’s 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 sale, the executive vice president now owns 73,511 shares of the company’s stock, valued at $6,916,649.99. The disclosure for this sale can be found here. Insiders sold a total of 215,466 shares of company stock valued at $19,683,536 over the last 90 days. 1.58% of the stock is currently 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.
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