State Street Corp trimmed its holdings in Allstate Corporation (The) (NYSE:ALL) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,702,518 shares of the insurance provider’s stock after selling 371,786 shares during the period. State Street Corp owned about 4.90% of Allstate Corporation (The) worth $1,565,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALL. Nicholas Hoffman & Company LLC. acquired a new position in shares of Allstate Corporation (The) in the 1st quarter valued at approximately $220,000. Cutter & CO Brokerage Inc. raised its position in shares of Allstate Corporation (The) by 107.4% in the 1st quarter. Cutter & CO Brokerage Inc. now owns 9,902 shares of the insurance provider’s stock valued at $807,000 after purchasing an additional 5,127 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Allstate Corporation (The) in the 1st quarter valued at approximately $318,000. Northwestern Mutual Investment Management Company LLC raised its position in shares of Allstate Corporation (The) by 74.5% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 73,808 shares of the insurance provider’s stock valued at $6,015,000 after purchasing an additional 31,522 shares in the last quarter. Finally, Tiedemann Wealth Management LLC raised its position in shares of Allstate Corporation (The) by 71.4% in the 1st quarter. Tiedemann Wealth Management LLC now owns 5,347 shares of the insurance provider’s stock valued at $436,000 after purchasing an additional 2,227 shares in the last quarter. 76.13% of the stock is currently owned by institutional investors.

In related news, CFO Steven E. Shebik sold 35,197 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the completion of the transaction, the chief financial officer now owns 127,560 shares in the company, valued at approximately $12,026,356.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan L. Lees sold 12,288 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $94.09, for a total value of $1,156,177.92. Following the transaction, the executive vice president now owns 73,511 shares of the company’s stock, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. Insiders have sold a total of 143,602 shares of company stock worth $13,272,624 in the last three months. 1.58% of the stock is owned by insiders.

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A number of brokerages have issued reports on ALL. BidaskClub lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research report on Thursday, August 17th. Deutsche Bank AG lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating and upped their target price for the company from $90.00 to $96.00 in a research report on Tuesday, August 8th. Barclays PLC upped their target price on Allstate Corporation (The) from $101.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $94.00 target price (up from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $90.50.

Allstate Corporation (ALL) traded up 0.11% during midday trading on Friday, hitting $93.29. The company had a trading volume of 930,648 shares. The company’s 50 day moving average is $91.07 and its 200-day moving average is $87.60. Allstate Corporation has a one year low of $66.55 and a one year high of $95.25. The company has a market cap of $33.71 billion, a P/E ratio of 13.78 and a beta of 1.08.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The company had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter last year, the firm earned $0.62 EPS. Allstate Corporation (The)’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Allstate Corporation will post $5.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is presently 21.86%.

Allstate Corporation (The) declared that its board has approved a stock buyback program on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Allstate Corporation (The) Company Profile

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

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Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

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