Allstate Corporation (The) (ALL) Position Cut by Ajo LP

Ajo LP decreased its position in Allstate Corporation (The) (NYSE:ALL) by 14.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,499,504 shares of the insurance provider’s stock after selling 576,712 shares during the period. Allstate Corporation (The) makes up 1.3% of Ajo LP’s holdings, making the stock its 12th biggest holding. Ajo LP owned about 0.97% of Allstate Corporation (The) worth $309,496,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. raised its holdings in shares of Allstate Corporation (The) by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 5 shares during the period. FNY Partners Fund LP acquired a new position in shares of Allstate Corporation (The) during the first quarter valued at about $122,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Allstate Corporation (The) by 8.5% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 122 shares during the period. Watermark Asset Management Inc. acquired a new position in shares of Allstate Corporation (The) during the first quarter valued at about $170,000. Finally, Archford Capital Strategies LLC acquired a new position in shares of Allstate Corporation (The) during the first quarter valued at about $181,000. Institutional investors and hedge funds own 76.51% of the company’s stock.

Several brokerages have recently weighed in on ALL. Buckingham Research began coverage on shares of Allstate Corporation (The) in a report on Monday. They set an “underperform” rating and a $74.00 price objective on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a report on Saturday, June 24th. BidaskClub lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Deutsche Bank AG lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and upped their price objective for the company from $90.00 to $96.00 in a report on Tuesday, August 8th. Finally, UBS AG reiterated a “neutral” rating and set a $94.00 price objective (up previously from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $90.38.

ILLEGAL ACTIVITY NOTICE: “Allstate Corporation (The) (ALL) Position Cut by Ajo LP” was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://sportsperspectives.com/2017/09/11/allstate-corporation-the-all-position-cut-by-ajo-lp.html.

Allstate Corporation (ALL) traded up 1.557% during midday trading on Monday, hitting $91.005. 1,382,717 shares of the company were exchanged. The stock has a 50 day moving average of $91.76 and a 200 day moving average of $86.30. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. The firm has a market capitalization of $32.89 billion, a PE ratio of 13.442 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.99 billion. During the same period last year, the company posted $0.62 EPS. Allstate Corporation (The)’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts predict that Allstate Corporation will post $6.41 earnings per share for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 1st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 63% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently declared 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. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a yield of 1.65%. Allstate Corporation (The)’s dividend payout ratio (DPR) is currently 21.86%.

In related news, President Matthew E. Winter sold 48,058 shares of Allstate Corporation (The) stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $88.81, for a total transaction of $4,268,030.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Shebik sold 35,197 shares of Allstate Corporation (The) 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 of the company’s stock, valued at $12,026,356.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,466 shares of company stock valued at $19,683,536. 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.

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

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.

Latest News

Leave a Reply