Global X Management Co. LLC raised its position in Allstate Corporation (The) (NYSE:ALL) by 22.2% during the second quarter, Holdings Channel reports. The fund owned 9,577 shares of the insurance provider’s stock after buying an additional 1,741 shares during the period. Global X Management Co. LLC’s holdings in Allstate Corporation (The) were worth $847,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALL. Hermes Investment Management Ltd. raised its position in Allstate Corporation (The) by 0.8% in the first quarter. Hermes Investment Management Ltd. now owns 229,409 shares of the insurance provider’s stock valued at $18,695,000 after buying an additional 1,752 shares in the last quarter. Hexavest Inc. raised its position in Allstate Corporation (The) by 3.8% in the first quarter. Hexavest Inc. now owns 253,379 shares of the insurance provider’s stock valued at $20,648,000 after buying an additional 9,361 shares in the last quarter. State of Alaska Department of Revenue raised its position in Allstate Corporation (The) by 12.7% in the first quarter. State of Alaska Department of Revenue now owns 74,132 shares of the insurance provider’s stock valued at $6,040,000 after buying an additional 8,355 shares in the last quarter. Bollard Group LLC raised its position in Allstate Corporation (The) by 0.4% in the first quarter. Bollard Group LLC now owns 16,676 shares of the insurance provider’s stock valued at $1,359,000 after buying an additional 74 shares in the last quarter. Finally, Benin Management CORP raised its position in Allstate Corporation (The) by 12.3% in the first quarter. Benin Management CORP now owns 131,352 shares of the insurance provider’s stock valued at $10,704,000 after buying an additional 14,365 shares in the last quarter. 76.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Allstate Corporation (NYSE:ALL) opened at 94.42 on Tuesday. The company has a market capitalization of $34.12 billion, a P/E ratio of 13.95 and a beta of 1.10. The stock has a 50 day moving average price of $90.41 and a 200-day moving average price of $84.63. Allstate Corporation has a one year low of $66.55 and a one year high of $94.83.

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. The firm 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 company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Equities research analysts predict that Allstate Corporation will post $6.50 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio (DPR) is 21.86%.

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

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Several research firms have recently weighed in on ALL. Deutsche Bank AG lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price objective for the company 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 company an “overweight” rating in a research note on Friday. UBS AG reaffirmed a “neutral” rating and issued a $94.00 price objective (up from $86.00) on shares of Allstate Corporation (The) in a research note on Thursday, August 3rd. BidaskClub lowered 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 research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $90.54.

In other Allstate Corporation (The) news, insider Sanjay Gupta sold 16,798 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $86.00, for a total value of $1,444,628.00. Following the completion of the transaction, the insider now owns 65,798 shares of the company’s stock, valued at approximately $5,658,628. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven E. Shebik sold 35,197 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the transaction, the chief financial officer now directly owns 127,560 shares of the company’s stock, valued at approximately $12,026,356.80. 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.

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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