Wetherby Asset Management Inc. raised its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,827 shares of the insurance provider’s stock after buying an additional 681 shares during the period. Wetherby Asset Management Inc.’s holdings in Allstate Corporation (The) were worth $957,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALL. FNY Partners Fund LP purchased a new stake in Allstate Corporation (The) during the first quarter worth about $122,000. Bronfman E.L. Rothschild L.P. increased its stake in Allstate Corporation (The) by 8.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock worth $126,000 after buying an additional 122 shares during the last quarter. Oakworth Capital Inc. increased its stake in Allstate Corporation (The) by 505.8% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the insurance provider’s stock worth $145,000 after buying an additional 1,482 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in Allstate Corporation (The) during the first quarter worth about $160,000. Finally, Watermark Asset Management Inc. purchased a new stake in Allstate Corporation (The) during the first quarter worth about $170,000. 76.91% of the stock is currently owned by institutional investors.

Allstate Corporation (ALL) opened at 94.38 on Wednesday. The stock has a market cap of $34.11 billion, a PE ratio of 13.94 and a beta of 1.10. Allstate Corporation has a one year low of $66.55 and a one year high of $94.83. The stock has a 50 day moving average price of $90.58 and a 200-day moving average price of $84.77.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, beating the 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 firm had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts expect that Allstate Corporation will post $6.50 earnings per share for the current fiscal year.

Allstate Corporation (The) announced that its board has approved a stock repurchase plan on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 63% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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 issued a $0.37 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.

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A number of analysts have issued reports on the company. Deutsche Bank AG downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. Barclays PLC lifted their price objective on Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. UBS AG reaffirmed a “neutral” rating and issued a $94.00 price objective (up previously from $86.00) on shares of Allstate Corporation (The) in a research note on Thursday, August 3rd. BidaskClub downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Allstate Corporation (The) currently has a consensus rating of “Hold” and an average price target of $90.54.

In related news, EVP Susan L. Lees sold 12,288 shares of the 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 completion of the sale, the executive vice president now owns 73,511 shares of the company’s stock, valued at $6,916,649.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sanjay Gupta sold 16,798 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $86.00, for a total value of $1,444,628.00. Following the completion of the sale, the insider now directly owns 65,798 shares of the company’s stock, valued at approximately $5,658,628. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,205 shares of company stock valued at $16,585,147. Insiders own 1.58% of the company’s stock.

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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