Meiji Yasuda Asset Management Co Ltd. Sells 800 Shares of Allstate Corporation (The) (ALL)

Meiji Yasuda Asset Management Co Ltd. decreased its stake in Allstate Corporation (The) (NYSE:ALL) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,035 shares of the insurance provider’s stock after selling 800 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Allstate Corporation (The) were worth $2,761,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Allstate Corporation (The) by 1.5% during the 2nd quarter. BlackRock Inc. now owns 26,847,576 shares of the insurance provider’s stock valued at $2,374,397,000 after acquiring an additional 389,249 shares during the period. Vanguard Group Inc. boosted its holdings in Allstate Corporation (The) by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock valued at $2,141,452,000 after acquiring an additional 575,645 shares during the period. Northern Trust Corp boosted its holdings in Allstate Corporation (The) by 18.8% during the 2nd quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock valued at $636,969,000 after acquiring an additional 1,141,782 shares during the period. Wells Fargo & Company MN boosted its holdings in Allstate Corporation (The) by 6.6% during the 2nd quarter. Wells Fargo & Company MN now owns 4,660,831 shares of the insurance provider’s stock valued at $412,204,000 after acquiring an additional 289,165 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Allstate Corporation (The) by 2.8% during the 2nd quarter. Alliancebernstein L.P. now owns 4,605,659 shares of the insurance provider’s stock valued at $407,324,000 after acquiring an additional 125,560 shares during the period. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Shares of Allstate Corporation (ALL) traded up $0.15 during midday trading on Tuesday, reaching $100.32. The company’s stock had a trading volume of 1,981,300 shares, compared to its average volume of 1,873,564. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31. The company has a market cap of $35,940.00, a price-to-earnings ratio of 14.75, a PEG ratio of 1.88 and a beta of 1.09. Allstate Corporation has a 1-year low of $69.04 and a 1-year high of $101.12.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.01). The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Allstate Corporation (The) had a return on equity of 13.11% and a net margin of 7.32%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. equities research analysts anticipate that Allstate Corporation will post 6.4 earnings per share for the current year.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, November 29th. Allstate Corporation (The)’s payout ratio is 20.56%.

A number of equities analysts recently issued reports on ALL shares. Citigroup Inc. dropped their price objective on Allstate Corporation (The) from $107.00 to $106.00 and set a “buy” rating for the company in a report on Monday, October 2nd. Wells Fargo & Company set a $110.00 price objective on Allstate Corporation (The) and gave the company a “buy” rating in a report on Thursday, November 16th. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research cut Allstate Corporation (The) from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Deutsche Bank AG cut Allstate Corporation (The) from a “buy” rating to a “hold” rating and boosted their price objective for the company from $90.00 to $96.00 in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $93.38.

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In other news, Chairman Thomas J. Wilson sold 195,000 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $99.13, for a total value of $19,330,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $98.68, for a total value of $10,187,920.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 428,242 shares of company stock valued at $42,425,971. Corporate insiders own 1.50% of the company’s stock.

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)

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