Bank of The Ozarks increased its stake in Allstate Corporation (The) (NYSE:ALL) by 34.6% during the second quarter, Holdings Channel reports. The firm owned 3,606 shares of the insurance provider’s stock after buying an additional 926 shares during the period. Bank of The Ozarks’ holdings in Allstate Corporation (The) were worth $319,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Allstate Corporation (The) by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,260,428 shares of the insurance provider’s stock valued at $199,913,000 after buying an additional 146,513 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Allstate Corporation (The) by 6.7% in the second quarter. Wetherby Asset Management Inc. now owns 10,827 shares of the insurance provider’s stock valued at $957,000 after buying an additional 681 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Allstate Corporation (The) by 177.2% in the second quarter. Canada Pension Plan Investment Board now owns 477,133 shares of the insurance provider’s stock valued at $42,198,000 after buying an additional 305,000 shares during the period. Strycker View Capital LLC increased its stake in shares of Allstate Corporation (The) by 31.6% in the second quarter. Strycker View Capital LLC now owns 207,998 shares of the insurance provider’s stock valued at $18,395,000 after buying an additional 50,000 shares during the period. Finally, Stoneridge Investment Partners LLC increased its stake in shares of Allstate Corporation (The) by 2.3% in the second quarter. Stoneridge Investment Partners LLC now owns 77,114 shares of the insurance provider’s stock valued at $6,820,000 after buying an additional 1,709 shares during the period. Institutional investors own 76.91% of the company’s stock.

Allstate Corporation (NYSE:ALL) opened at 94.38 on Wednesday. The stock’s 50 day moving average price is $90.58 and its 200 day moving average price is $84.77. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $94.83. The firm has a market capitalization of $34.11 billion, a PE ratio of 13.94 and a beta of 1.10.

Allstate Corporation (The) (NYSE:ALL) last announced its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Allstate Corporation will post $6.50 earnings per share for the current year.

Allstate Corporation (The) announced that its Board of Directors 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is 21.86%.

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

In other news, insider Sanjay Gupta sold 16,798 shares of Allstate Corporation (The) stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $86.00, for a total transaction of $1,444,628.00. Following the sale, the insider now directly owns 65,798 shares of the company’s stock, valued at $5,658,628. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of Allstate Corporation (The) stock in a transaction dated 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 sale, the executive vice president now directly 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 ninety days, insiders have sold 184,205 shares of company stock worth $16,585,147. Corporate 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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