Gluskin Sheff & Assoc Inc. decreased its position in shares of Allstate Corp. (NYSE:ALL) by 37.4% during the second quarter, Holdings Channel reports. The fund owned 36,760 shares of the company’s stock after selling 21,949 shares during the period. Gluskin Sheff & Assoc Inc.’s holdings in Allstate Corp. were worth $2,571,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ngam Advisors L.P. raised its position in Allstate Corp. by 10.1% in the first quarter. Ngam Advisors L.P. now owns 75,749 shares of the company’s stock worth $5,104,000 after buying an additional 6,951 shares during the last quarter. Teachers Advisors Inc. raised its position in Allstate Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 828,626 shares of the company’s stock worth $55,825,000 after buying an additional 19,379 shares during the last quarter. JPMorgan Chase & Co. raised its position in Allstate Corp. by 3.4% in the first quarter. JPMorgan Chase & Co. now owns 1,990,307 shares of the company’s stock worth $134,087,000 after buying an additional 65,427 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Allstate Corp. during the first quarter worth about $30,573,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Allstate Corp. during the first quarter worth about $2,223,000. 76.38% of the stock is owned by hedge funds and other institutional investors.
Allstate Corp. (NYSE:ALL) traded down 0.06% during mid-day trading on Thursday, hitting $67.77. 2,164,634 shares of the company were exchanged. The stock has a market cap of $25.17 billion, a P/E ratio of 17.07 and a beta of 0.95. The company has a 50 day moving average of $68.55 and a 200 day moving average of $67.86. Allstate Corp. has a 12-month low of $56.03 and a 12-month high of $70.38.
Allstate Corp. (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts expect that Allstate Corp. will post $4.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, August 29th. Allstate Corp.’s dividend payout ratio (DPR) is presently 33.59%.
ALL has been the subject of a number of analyst reports. Macquarie reissued an “outperform” rating and set a $78.00 target price on shares of Allstate Corp. in a research note on Wednesday, June 8th. MKM Partners reaffirmed a “buy” rating on shares of Allstate Corp. in a research note on Thursday, June 16th. Zacks Investment Research lowered shares of Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Deutsche Bank AG upped their price target on shares of Allstate Corp. from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG set a $73.00 price target on shares of Allstate Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of GBX 72 ($0.94).
In other news, insider Harriet K. Harty sold 6,779 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of GBX 68.64 ($0.90), for a total value of £4,653.11 ($6,073.76). Following the transaction, the insider now owns 12,316 shares of the company’s stock, valued at approximately £8,453.70 ($11,034.72). The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew E. Winter sold 26,150 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of GBX 70 ($0.91), for a total transaction of £18,305 ($23,893.75). The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.
About Allstate Corp.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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