Cubist Systematic Strategies LLC raised its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 53.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,707 shares of the insurance provider’s stock after buying an additional 2,338 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Allstate Corporation (The) were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Jackson Grant Investment Advisers Inc. grew its holdings in Allstate Corporation (The) by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Allstate Corporation (The) by 0.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock valued at $273,000 after buying an additional 9 shares in the last quarter. Brighton Jones LLC grew its holdings in Allstate Corporation (The) by 0.3% during the 2nd quarter. Brighton Jones LLC now owns 3,313 shares of the insurance provider’s stock valued at $293,000 after buying an additional 10 shares in the last quarter. Sandy Spring Bank grew its holdings in Allstate Corporation (The) by 2.5% during the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after buying an additional 28 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its holdings in Allstate Corporation (The) by 1.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,709 shares of the insurance provider’s stock valued at $219,000 after buying an additional 35 shares in the last quarter. 76.08% of the stock is owned by institutional investors and hedge funds.

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Shares of Allstate Corporation (NYSE:ALL) opened at 92.97 on Friday. The company has a 50-day moving average price of $91.27 and a 200-day moving average price of $88.40. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $95.25. The company has a market cap of $33.60 billion, a P/E ratio of 13.73 and a beta of 1.08.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, equities analysts predict that Allstate Corporation will post $5.79 EPS for the current year.

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

In other Allstate Corporation (The) 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew E. Winter sold 48,059 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total value of $4,543,017.27. The disclosure for this sale can be found here. Insiders have sold a total of 95,544 shares of company stock valued at $9,017,568 in the last 90 days. 1.58% of the stock is currently owned by company insiders.

Several research analysts have recently commented on the company. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a report on Thursday, July 20th. Barclays PLC cut their price objective on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. Citigroup Inc. boosted their price objective on Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Buckingham Research assumed coverage on Allstate Corporation (The) in a report on Monday, September 11th. They set an “underperform” rating and a $74.00 price objective for the company. Finally, Morgan Stanley reissued an “equal weight” rating and set a $91.00 price objective (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Allstate Corporation (The) has an average rating of “Hold” and a consensus price target of $91.62.

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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