Grandfield & Dodd LLC decreased its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 53,810 shares of the insurance provider’s stock after selling 45 shares during the period. Grandfield & Dodd LLC’s holdings in Allstate Corporation (The) were worth $4,759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Allstate Corporation (The) by 2,743.3% in the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after buying an additional 25,527,763 shares during the period. Victory Capital Management Inc. raised its position in shares of Allstate Corporation (The) by 246.3% in the first quarter. Victory Capital Management Inc. now owns 2,080,446 shares of the insurance provider’s stock valued at $169,536,000 after buying an additional 1,479,694 shares during the period. Ameriprise Financial Inc. raised its position in shares of Allstate Corporation (The) by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 3,961,953 shares of the insurance provider’s stock valued at $322,883,000 after buying an additional 1,258,952 shares during the period. Bank of New York Mellon Corp raised its position in shares of Allstate Corporation (The) by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 4,756,094 shares of the insurance provider’s stock valued at $387,575,000 after buying an additional 792,583 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Allstate Corporation (The) by 3.2% in the first quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock valued at $1,926,258,000 after buying an additional 733,684 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Allstate Corporation (ALL) opened at 94.70 on Thursday. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $94.70. The company has a 50-day moving average of $89.93 and a 200-day moving average of $84.15. The company has a market cap of $34.22 billion, a P/E ratio of 13.99 and a beta of 1.10.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The firm had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same period last year, the business 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 research analysts predict that Allstate Corporation will post $6.46 EPS for the current year.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.56%. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.

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Several research analysts have issued reports on ALL shares. Macquarie lowered Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $78.00 to $81.00 in a research report on Tuesday, April 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Barclays PLC decreased their price target on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. MKM Partners reaffirmed a “buy” rating and set a $100.00 price target (up previously from $90.00) on shares of Allstate Corporation (The) in a research note on Thursday, May 4th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $89.38.

In related news, insider Harriet K. Harty sold 7,228 shares of Allstate Corporation (The) stock in a transaction on Friday, June 30th. The shares were sold at an average price of $88.35, for a total transaction of $638,593.80. Following the sale, the insider now directly owns 18,260 shares in the company, valued at approximately $1,613,271. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Matthew E. Winter sold 33,957 shares of Allstate Corporation (The) stock in a transaction on Monday, May 15th. The stock was sold at an average price of $84.38, for a total transaction of $2,865,291.66. The disclosure for this sale can be found here. Insiders have sold a total of 218,162 shares of company stock worth $19,450,439 over the last quarter. 1.58% of the stock is owned by company insiders.

About Allstate Corporation (The)

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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