Cullen Frost Bankers Inc. cut its stake in Allstate Corp. (NYSE:ALL) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,872 shares of the company’s stock after selling 2,931 shares during the period. Cullen Frost Bankers Inc.’s holdings in Allstate Corp. were worth $2,300,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. BlackRock Group LTD increased its stake in shares of Allstate Corp. by 9.1% in the first quarter. BlackRock Group LTD now owns 4,025,435 shares of the company’s stock valued at $271,193,000 after buying an additional 337,002 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Allstate Corp. during the first quarter valued at $9,467,000. CLS Investments LLC increased its stake in shares of Allstate Corp. by 50.5% in the first quarter. CLS Investments LLC now owns 16,546 shares of the company’s stock valued at $1,115,000 after buying an additional 5,555 shares during the last quarter. Willingdon Wealth Management acquired a new stake in shares of Allstate Corp. during the first quarter valued at $223,000. Finally, Rehmann Capital Advisory Group increased its stake in shares of Allstate Corp. by 48.2% in the first quarter. Rehmann Capital Advisory Group now owns 8,048 shares of the company’s stock valued at $542,000 after buying an additional 2,617 shares during the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.
Allstate Corp. (NYSE:ALL) traded down 0.15% during mid-day trading on Monday, hitting $68.39. The stock had a trading volume of 1,861,044 shares. The firm has a 50-day moving average of $68.68 and a 200-day moving average of $67.75. Allstate Corp. has a 52-week low of $56.03 and a 52-week high of $70.38. The stock has a market cap of $25.40 billion, a P/E ratio of 17.22 and a beta of 1.00.
Allstate Corp. (NYSE:ALL) last issued its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm earned $9.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, analysts forecast that Allstate Corp. will post $4.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Wednesday, August 31st will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.93%. Allstate Corp.’s payout ratio is currently 33.59%.
Several research analysts recently issued reports on ALL shares. Zacks Investment Research cut Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Credit Suisse Group AG set a $73.00 price objective on Allstate Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Argus reissued a “buy” rating and issued a $76.00 price objective on shares of Allstate Corp. in a research note on Friday, September 2nd. Deutsche Bank AG increased their price objective on Allstate Corp. from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, William Blair reissued an “underperform” rating on shares of Allstate Corp. in a research note on Saturday, September 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of GBX 71.42 ($0.93).
In other Allstate Corp. news, insider Harriet K. Harty sold 6,779 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now owns 12,316 shares in the company, valued at £8,453.70 ($11,034.72). The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven E. Shebik sold 41,334 shares of the company’s stock in a transaction on Monday, August 8th. The shares were 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 transaction, 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. Corporate insiders own 1.58% of the company’s stock.
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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