Bank of New York Mellon Corp Decreases Position in Allstate Corp (ALL)

Bank of New York Mellon Corp reduced its stake in shares of Allstate Corp (NYSE:ALL) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,241,075 shares of the insurance provider’s stock after selling 516,797 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.94% of Allstate worth $295,814,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Boston Partners boosted its holdings in shares of Allstate by 11.2% during the second quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock worth $959,406,000 after purchasing an additional 1,061,730 shares during the period. Macquarie Group Ltd. lifted its stake in Allstate by 4.3% in the second quarter. Macquarie Group Ltd. now owns 7,478,697 shares of the insurance provider’s stock valued at $682,581,000 after acquiring an additional 305,110 shares during the last quarter. LSV Asset Management lifted its stake in Allstate by 3.0% in the second quarter. LSV Asset Management now owns 5,409,081 shares of the insurance provider’s stock valued at $493,686,000 after acquiring an additional 157,623 shares during the last quarter. FMR LLC lifted its stake in Allstate by 24.7% in the second quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock valued at $373,917,000 after acquiring an additional 811,694 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Allstate by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,265,378 shares of the insurance provider’s stock valued at $206,762,000 after acquiring an additional 94,300 shares during the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

In other news, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the transaction, the executive vice president now owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Susan L. Lees sold 22,189 shares of Allstate stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total transaction of $2,202,036.36. The disclosure for this sale can be found here. In the last three months, insiders sold 54,432 shares of company stock worth $5,386,208. Insiders own 1.40% of the company’s stock.

A number of research firms have issued reports on ALL. ValuEngine upgraded shares of Allstate from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. Citigroup reduced their target price on shares of Allstate from $108.00 to $107.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Wells Fargo & Co set a $100.00 target price on shares of Allstate and gave the company a “hold” rating in a research note on Thursday, October 18th. B. Riley lifted their target price on shares of Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, July 16th. Finally, Buckingham Research upgraded shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 target price for the company in a research note on Wednesday, July 18th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $104.62.

NYSE:ALL opened at $95.72 on Thursday. Allstate Corp has a 12 month low of $88.29 and a 12 month high of $105.36. The company has a market capitalization of $31.97 billion, a PE ratio of 14.27, a PEG ratio of 1.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.04. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the firm posted $1.60 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that Allstate Corp will post 9.46 earnings per share for the current fiscal year.

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

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