Essex Investment Management Co. LLC reduced its position in shares of Allstate Corp. (NYSE:ALL) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,924 shares of the company’s stock after selling 109 shares during the period. Essex Investment Management Co. LLC’s holdings in Allstate Corp. were worth $274,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. raised its stake in Allstate Corp. by 204.5% in the second quarter. American Century Companies Inc. now owns 3,874,045 shares of the company’s stock worth $270,989,000 after buying an additional 2,601,606 shares during the period. Bank of Montreal Can purchased a new stake in Allstate Corp. during the second quarter worth $130,921,000. Credit Agricole S A raised its stake in Allstate Corp. by 296.1% in the first quarter. Credit Agricole S A now owns 943,038 shares of the company’s stock worth $63,532,000 after buying an additional 704,940 shares during the period. Renaissance Technologies LLC raised its stake in Allstate Corp. by 4,833.1% in the first quarter. Renaissance Technologies LLC now owns 607,900 shares of the company’s stock worth $40,954,000 after buying an additional 595,577 shares during the period. Finally, Wellington Management Group LLP raised its stake in Allstate Corp. by 492.6% in the first quarter. Wellington Management Group LLP now owns 514,751 shares of the company’s stock worth $34,680,000 after buying an additional 427,882 shares during the period. 76.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Allstate Corp. (NYSE:ALL) traded up 0.97% during midday trading on Friday, reaching $68.43. 2,319,456 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $68.48 and its 200 day moving average price is $67.87. The stock has a market capitalization of $25.42 billion, a P/E ratio of 17.23 and a beta of 0.95. Allstate Corp. has a 1-year low of $56.03 and a 1-year high of $70.38.
Allstate Corp. (NYSE:ALL) last released its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.04. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. The company earned $9.16 billion during the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Allstate Corp. will post $4.41 earnings per share for the current fiscal year.
The company 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 1.93%. The ex-dividend date of this dividend was Monday, August 29th. Allstate Corp.’s dividend payout ratio (DPR) is presently 33.59%.
A number of analysts recently weighed in on ALL shares. William Blair reissued an “underperform” rating on shares of Allstate Corp. in a research report on Saturday, September 10th. Credit Suisse Group AG set a $73.00 price objective on shares of Allstate Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Argus reaffirmed a “buy” rating and set a $76.00 target price on shares of Allstate Corp. in a research report on Friday, September 2nd. Zacks Investment Research lowered shares of Allstate Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $79.00 target price (up from $74.00) on shares of Allstate Corp. in a research report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 72 ($0.94).
In other news, President Matthew E. Winter sold 26,150 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of GBX 70 ($0.91), for a total value of £18,305 ($23,893.75). The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Shebik sold 41,334 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of GBX 68.86 ($0.90), for a total transaction of £28,462.59 ($37,152.58). Following the completion of the sale, the chief financial officer now owns 102,959 shares of the company’s stock, valued at approximately £70,897.57 ($92,543.49). The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.
Allstate Corp. Company Profile
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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