Kassirer Asset Management Corp maintained its position in Allstate Corporation (The) (NYSE:ALL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,950 shares of the insurance provider’s stock at the end of the second quarter. Kassirer Asset Management Corp’s holdings in Allstate Corporation (The) were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. BlackRock Inc. raised its position in 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 in the last quarter. Victory Capital Management Inc. raised its position in 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 in the last quarter. Ameriprise Financial Inc. raised its position in 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 in the last quarter. Bank of New York Mellon Corp raised its position in 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in 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 in the last quarter. Institutional investors own 77.04% of the company’s stock.

Allstate Corporation (ALL) opened at 94.70 on Thursday. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of 13.99 and a beta of 1.10. The firm’s 50 day moving average price is $89.93 and its 200 day moving average price is $84.15. Allstate Corporation has a 12 month low of $66.55 and a 12 month high of $94.70.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The firm had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. On average, equities research analysts predict that Allstate Corporation will post $6.46 EPS for the current fiscal year.

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

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

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ALL has been the subject of several recent research reports. Macquarie lowered Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and lifted their price target for the stock 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 lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Barclays PLC dropped their price target on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. MKM Partners reiterated a “buy” rating and issued a $100.00 price target (up previously from $90.00) on shares of Allstate Corporation (The) in a research report on Thursday, May 4th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Allstate Corporation (The) presently has a consensus rating of “Hold” and a consensus price target of $89.38.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the sale, the chief financial officer now directly owns 127,560 shares in the company, valued at approximately $12,026,356.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction of $1,156,177.92. Following the sale, the executive vice president now owns 73,511 shares in the company, valued at $6,916,649.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,162 shares of company stock worth $19,450,439. 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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