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.
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.
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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