Eagle Asset Management Inc. Reduces Position in Allstate Corporation (The) (ALL)

Eagle Asset Management Inc. lowered its holdings in Allstate Corporation (The) (NYSE:ALL) by 51.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,815 shares of the insurance provider’s stock after selling 19,952 shares during the period. Eagle Asset Management Inc.’s holdings in Allstate Corporation (The) were worth $1,663,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Allstate Corporation (The) 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 purchasing an additional 25,527,763 shares in the last quarter. Vanguard Group Inc. lifted its stake in Allstate Corporation (The) by 3.2% in the first quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock worth $1,926,258,000 after acquiring an additional 733,684 shares during the last quarter. State Street Corp lifted 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 acquiring an additional 530,591 shares during the last quarter. Boston Partners lifted its stake in Allstate Corporation (The) by 3.8% in the first quarter. Boston Partners now owns 9,278,481 shares of the insurance provider’s stock worth $756,103,000 after acquiring an additional 341,615 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Allstate Corporation (The) by 6.1% in the first quarter. AQR Capital Management LLC now owns 6,268,589 shares of the insurance provider’s stock worth $510,828,000 after acquiring an additional 363,084 shares during the last quarter. Hedge funds and other institutional investors own 76.51% of the company’s stock.

In other Allstate Corporation (The) news, insider Harriet K. Harty sold 7,228 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $88.35, for a total value of $638,593.80. Following the transaction, the insider now owns 18,260 shares of the company’s stock, valued at $1,613,271. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Matthew E. Winter sold 48,058 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $88.81, for a total value of $4,268,030.98. The disclosure for this sale can be found here. Insiders sold 215,466 shares of company stock worth $19,683,536 over the last quarter. Company insiders own 1.58% of the company’s stock.

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Shares of Allstate Corporation (ALL) opened at 91.23 on Tuesday. The company has a market capitalization of $32.97 billion, a PE ratio of 13.48 and a beta of 1.09. The firm has a 50-day moving average price of $91.75 and a 200-day moving average price of $86.34. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm had revenue of $8.02 billion for the quarter, compared to analysts’ expectations of $7.99 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Allstate Corporation will post $6.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio (DPR) is 21.86%.

Allstate Corporation (The) declared that its board has approved a share repurchase program on Tuesday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 63% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Several brokerages have recently weighed in on ALL. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Morgan Stanley reissued an “equal weight” rating and issued a $91.00 price objective (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $88.00 price objective on shares of Allstate Corporation (The) in a research note on Friday, June 16th. Finally, UBS AG reissued a “neutral” rating and issued a $94.00 price objective (up from $86.00) on shares of Allstate Corporation (The) in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $90.38.

Allstate Corporation (The) 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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