Lee Danner & Bass Inc. increased its stake in Allstate Corporation (The) (NYSE:ALL) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,839 shares of the insurance provider’s stock after buying an additional 65 shares during the period. Lee Danner & Bass Inc.’s holdings in Allstate Corporation (The) were worth $693,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake 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 last quarter. Victory Capital Management Inc. increased its stake 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 last quarter. Ameriprise Financial Inc. increased its stake 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 last quarter. Bank of New York Mellon Corp increased its stake 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 last quarter. Finally, Vanguard Group Inc. increased its stake 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 last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Allstate Corporation (NYSE:ALL) opened at 94.70 on Thursday. Allstate Corporation has a one year low of $66.55 and a one year high of $94.70. The firm’s 50 day moving average price is $89.93 and its 200-day moving average price is $84.15. The company has a market capitalization of $34.22 billion, a PE ratio of 13.99 and a beta of 1.10.

Allstate Corporation (The) (NYSE:ALL) last posted its 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 the consensus estimate of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Equities analysts forecast that Allstate Corporation will post $6.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be given 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 1.56%. Allstate Corporation (The)’s dividend payout ratio is presently 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 repurchase up to 63% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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A number of research firms have weighed in on ALL. Macquarie downgraded shares of 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 note 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 on the stock in a research note on Monday, July 3rd. MKM Partners reiterated 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 reiterated 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 given a hold rating and seven have given a buy rating to the company’s stock. Allstate Corporation (The) presently has an average rating of “Hold” and a consensus price target of $89.38.

In other Allstate Corporation (The) news, President Matthew E. Winter sold 33,957 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $84.38, for a total value of $2,865,291.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction dated 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 owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The disclosure for this sale can be found here. Insiders sold 218,162 shares of company stock valued at $19,450,439 over the last quarter. Corporate 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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