Andra AP fonden cut its position in Allstate Corporation (The) (NYSE:ALL) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,200 shares of the insurance provider’s stock after selling 2,300 shares during the period. Allstate Corporation (The) accounts for about 0.5% of Andra AP fonden’s holdings, making the stock its 23rd largest position. Andra AP fonden owned 0.07% of Allstate Corporation (The) worth $21,774,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Henderson Group PLC raised its stake in Allstate Corporation (The) by 1.1% in the first quarter. Henderson Group PLC now owns 47,317 shares of the insurance provider’s stock worth $3,855,000 after buying an additional 500 shares during the last quarter. FCA Corp TX raised its stake in Allstate Corporation (The) by 0.7% in the first quarter. FCA Corp TX now owns 25,241 shares of the insurance provider’s stock worth $2,057,000 after buying an additional 180 shares during the last quarter. State Street Corp raised its stake in Allstate Corporation (The) by 3.0% in the first quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock worth $1,472,962,000 after buying an additional 530,591 shares during the last quarter. IFP Advisors Inc raised its stake in Allstate Corporation (The) by 5.8% in the first quarter. IFP Advisors Inc now owns 12,623 shares of the insurance provider’s stock worth $1,029,000 after buying an additional 695 shares during the last quarter. Finally, Paragon Capital Management Ltd acquired a new stake in Allstate Corporation (The) during the first quarter worth approximately $222,000. 76.91% of the stock is owned by institutional investors and hedge funds.

Allstate Corporation (NYSE:ALL) opened at 92.02 on Friday. The stock has a market capitalization of $33.25 billion, a P/E ratio of 13.59 and a beta of 1.10. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $95.25. The company’s 50-day moving average price is $91.52 and its 200 day moving average price is $85.59.

Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping the 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 company had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Allstate Corporation will post $6.51 earnings per share for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be given 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 yield of 1.61%. Allstate Corporation (The)’s payout ratio is currently 21.86%.

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A number of analysts have commented on ALL shares. Barclays PLC lifted their target price on Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. MKM Partners reaffirmed a “buy” rating and issued a $100.00 price objective (up previously from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Citigroup Inc. lifted their price objective on Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Deutsche Bank AG lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $90.00 to $96.00 in a report on Tuesday, August 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $91.00 price objective (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Allstate Corporation (The) presently has a consensus rating of “Hold” and an average price target of $90.54.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the transaction, the chief financial officer now directly owns 127,560 shares in the company, valued at $12,026,356.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harriet K. Harty sold 7,228 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $88.35, for a total transaction of $638,593.80. Following the transaction, the insider now owns 18,260 shares in the company, valued at $1,613,271. The disclosure for this sale can be found here. Insiders have sold 215,466 shares of company stock worth $19,683,536 over the last 90 days. 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.

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

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