New York State Teachers Retirement System lessened its holdings in Allstate Corporation (The) (NYSE:ALL) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 643,389 shares of the insurance provider’s stock after selling 9,812 shares during the quarter. New York State Teachers Retirement System owned 0.18% of Allstate Corporation (The) worth $59,134,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ALL. Arrow Financial Corp boosted its holdings in shares of Allstate Corporation (The) by 100.0% during the 3rd quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 553 shares in the last quarter. Sandy Spring Bank boosted its holdings in shares of Allstate Corporation (The) by 2.5% during the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 28 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Allstate Corporation (The) by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 5 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Allstate Corporation (The) by 46.6% during the 2nd quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 405 shares in the last quarter. Finally, Baker Ellis Asset Management LLC acquired a new stake in shares of Allstate Corporation (The) during the 3rd quarter valued at $120,000. 76.75% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the company. Wells Fargo & Company reissued a “buy” rating and set a $105.00 price objective on shares of Allstate Corporation (The) in a report on Thursday. Zacks Investment Research downgraded Allstate Corporation (The) from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Citigroup Inc. cut their target price on Allstate Corporation (The) from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Monday, October 2nd. UBS AG cut their target price on Allstate Corporation (The) from $94.00 to $93.00 and set a “neutral” rating on the stock in a report on Tuesday, September 19th. Finally, Buckingham Research began coverage on Allstate Corporation (The) in a report on Monday, September 11th. They set an “underperform” rating and a $74.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $91.62.

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Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the company earned $1.26 earnings per share. Allstate Corporation (The)’s quarterly revenue was up 3.2% on a year-over-year basis.

Allstate Corporation (The) declared that its board has initiated 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 repurchase up to 63% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In related news, CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction dated Monday, August 7th. The shares were 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 directly owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Matthew E. Winter sold 48,059 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $94.53, for a total transaction of $4,543,017.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,544 shares of company stock valued at $9,017,568. 1.58% of the stock is owned by 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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