James Investment Research Inc. held its stake in shares of Allstate Corp (NYSE:ALL) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,755 shares of the insurance provider’s stock at the end of the second quarter. James Investment Research Inc.’s holdings in Allstate Corp were worth $155,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ALL. BlackRock Inc. boosted its stake in shares of Allstate Corp 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. raised its position in Allstate Corp 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 period. Ameriprise Financial Inc. raised its position in Allstate Corp 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 period. Bank of New York Mellon Corp raised its position in Allstate Corp 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 period. Finally, Vanguard Group Inc. raised its position in Allstate Corp 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 period. 77.04% of the stock is owned by hedge funds and other institutional investors.
Allstate Corp (NYSE:ALL) traded down 0.22% during mid-day trading on Friday, hitting $93.95. 1,111,370 shares of the stock traded hands. The company has a 50 day moving average of $90.23 and a 200-day moving average of $84.36. Allstate Corp has a 12-month low of $66.55 and a 12-month high of $94.70. The stock has a market cap of $33.95 billion, a PE ratio of 13.88 and a beta of 1.10.
Allstate Corp (NYSE:ALL) last posted its earnings results 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. The firm had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corp had a net margin of 6.01% and a return on equity of 11.26%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Equities research analysts forecast that Allstate Corp will post $6.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, August 29th. Allstate Corp’s dividend payout ratio (DPR) is presently 21.86%.
Allstate Corp declared that its board has authorized a share buyback program on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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ALL has been the subject of several recent analyst reports. Barclays PLC reduced their price objective on shares of Allstate Corp from $101.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. BidaskClub lowered shares of Allstate Corp from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corp in a research note on Saturday, June 24th. Deutsche Bank AG lowered shares of Allstate Corp from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. Finally, Citigroup Inc. boosted their price objective on shares of Allstate Corp from $97.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Allstate Corp currently has an average rating of “Hold” and a consensus target price of $90.54.
In other Allstate Corp news, CFO Steven E. Shebik sold 35,197 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the transaction, the chief financial officer now owns 127,560 shares in the company, valued at approximately $12,026,356.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was 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 owns 73,511 shares of the company’s stock, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,162 shares of company stock valued at $19,450,439. Corporate insiders own 1.58% of the company’s stock.
About Allstate Corp
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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