Voya Investment Management LLC cut its stake in Allstate Corp (NYSE:ALL) by 77.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 339,211 shares of the insurance provider’s stock after selling 1,195,406 shares during the quarter. Voya Investment Management LLC’s holdings in Allstate were worth $30,960,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its position in shares of Allstate by 41.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock worth $183,000 after purchasing an additional 545 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Allstate by 1.5% in the 2nd quarter. First Republic Investment Management Inc. now owns 40,836 shares of the insurance provider’s stock worth $3,727,000 after purchasing an additional 622 shares in the last quarter. Raymond James & Associates boosted its position in shares of Allstate by 10.6% in the 2nd quarter. Raymond James & Associates now owns 821,912 shares of the insurance provider’s stock worth $75,016,000 after purchasing an additional 78,977 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of Allstate by 3.9% in the 2nd quarter. AMP Capital Investors Ltd now owns 389,493 shares of the insurance provider’s stock worth $35,547,000 after purchasing an additional 14,766 shares in the last quarter. Finally, 6 Meridian boosted its position in shares of Allstate by 0.6% in the 2nd quarter. 6 Meridian now owns 240,231 shares of the insurance provider’s stock worth $21,926,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.
A number of analysts have recently weighed in on ALL shares. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research report on Monday, August 27th. Wells Fargo & Co reissued a “hold” rating on shares of Allstate in a research report on Thursday, August 16th. Credit Suisse Group lowered their price objective on Allstate from $114.00 to $112.00 and set a “buy” rating for the company in a research report on Tuesday, August 28th. B. Riley raised their price objective on Allstate from $88.00 to $103.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Finally, Buckingham Research raised Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price objective for the company in a research report on Wednesday, July 18th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Allstate currently has an average rating of “Hold” and an average target price of $103.92.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. equities research analysts expect that Allstate Corp will post 9.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, August 31st will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.84%. Allstate’s dividend payout ratio is currently 27.42%.
In other Allstate news, insider Glenn T. Shapiro sold 21,728 shares of Allstate stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $98.70, for a total transaction of $2,144,553.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan L. Lees sold 22,189 shares of Allstate stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total value of $2,202,036.36. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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