First Citizens Bank & Trust Co. reduced its position in shares of Allstate Corp. (NYSE:ALL) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 18,535 shares of the company’s stock after selling 3,195 shares during the period. First Citizens Bank & Trust Co.’s holdings in Allstate Corp. were worth $1,296,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Evanson Asset Management LLC increased its position in Allstate Corp. by 0.3% in the second quarter. Evanson Asset Management LLC now owns 5,165 shares of the company’s stock worth $361,000 after buying an additional 16 shares during the period. WealthTrust Axiom LLC increased its position in Allstate Corp. by 1.0% in the second quarter. WealthTrust Axiom LLC now owns 3,878 shares of the company’s stock worth $271,000 after buying an additional 37 shares during the period. Abner Herrman & Brock LLC increased its position in Allstate Corp. by 0.5% in the second quarter. Abner Herrman & Brock LLC now owns 13,237 shares of the company’s stock worth $926,000 after buying an additional 60 shares during the period. Kanaly Trust Co increased its position in Allstate Corp. by 1.5% in the second quarter. Kanaly Trust Co now owns 4,351 shares of the company’s stock worth $304,000 after buying an additional 65 shares during the period. Finally, Peddock Capital Advisors LLC increased its position in Allstate Corp. by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 12,269 shares of the company’s stock worth $858,000 after buying an additional 76 shares during the period. 76.38% of the stock is owned by institutional investors and hedge funds.
Shares of Allstate Corp. (NYSE:ALL) traded up 1.10% during mid-day trading on Wednesday, reaching $68.95. The company had a trading volume of 826,668 shares. The firm has a market capitalization of $25.61 billion, a PE ratio of 17.36 and a beta of 0.95. The stock has a 50 day moving average price of $68.44 and a 200 day moving average price of $67.90. 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 earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Allstate Corp. had a return on equity of 9.94% and a net margin of 4.63%. The business earned $9.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts forecast that Allstate Corp. will post $4.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Wednesday, August 31st were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.32 annualized dividend and a yield of 1.94%. Allstate Corp.’s dividend payout ratio is currently 33.59%.
A number of research firms recently commented on ALL. Zacks Investment Research downgraded Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Deutsche Bank AG boosted their price target on Allstate Corp. from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. William Blair reaffirmed an “underperform” rating on shares of Allstate Corp. in a research note on Saturday, September 10th. MKM Partners reissued a “buy” rating on shares of Allstate Corp. in a research note on Thursday, June 16th. Finally, Credit Suisse Group AG set a $73.00 target price on Allstate Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Allstate Corp. presently has a consensus rating of “Buy” and an average target price of GBX 72 ($0.89).
In other Allstate Corp. news, insider Harriet K. Harty sold 6,779 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of GBX 68.64 ($0.85), for a total value of £4,653.11 ($5,758.79). Following the sale, the insider now owns 12,316 shares of the company’s stock, valued at approximately £8,453.70 ($10,462.50). The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven E. Shebik sold 41,334 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of GBX 68.86 ($0.85), for a total value of £28,462.59 ($35,225.98). Following the completion of the sale, the chief financial officer now directly owns 102,959 shares in the company, valued at approximately £70,897.57 ($87,744.51). The disclosure for this sale can be found here. 1.58% of the stock is owned by company 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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