Brave Asset Management Inc. lowered its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,150 shares of the insurance provider’s stock after selling 250 shares during the period. Brave Asset Management Inc.’s holdings in Allstate Corporation (The) were worth $1,075,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. FNY Partners Fund LP purchased a new position in shares of Allstate Corporation (The) during the first quarter valued at $122,000. Bronfman E.L. Rothschild L.P. increased its position in shares of 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 valued at $126,000 after buying an additional 122 shares in the last quarter. Oakworth Capital Inc. increased its position in shares of Allstate Corporation (The) by 505.8% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the insurance provider’s stock valued at $145,000 after buying an additional 1,482 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Allstate Corporation (The) during the first quarter valued at $160,000. Finally, Watermark Asset Management Inc. purchased a new position in shares of Allstate Corporation (The) during the first quarter valued at $170,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Allstate Corporation (NYSE ALL) opened at 93.95 on Friday. The stock has a market cap of $33.95 billion, a P/E ratio of 13.88 and a beta of 1.10. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $94.70. The stock has a 50 day moving average of $90.23 and a 200 day moving average of $84.36.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.48. The company had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, equities research analysts anticipate that Allstate Corporation will post $6.50 earnings per share for the current fiscal year.

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.58%. Allstate Corporation (The)’s payout ratio is currently 21.86%.

Allstate Corporation (The) declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/brave-asset-management-inc-has-1-08-million-position-in-allstate-corporation-the-nyseall/1476901.html.

Several brokerages have weighed in on ALL. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. Macquarie downgraded shares of Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $78.00 to $81.00 in a report on Tuesday, April 18th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “equal weight” rating and set a $91.00 price target (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. MKM Partners reaffirmed a “buy” rating and set a $100.00 price target (up previously from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $88.00 price target on shares of Allstate Corporation (The) in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $90.54.

In other Allstate Corporation (The) news, President Matthew E. Winter sold 33,957 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $84.38, for a total value of $2,865,291.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven E. Shebik sold 35,197 shares of the firm’s stock in a transaction 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 owns 127,560 shares in the company, valued at approximately $12,026,356.80. The disclosure for this sale can be found here. Insiders sold a total of 218,162 shares of company stock worth $19,450,439 in the last 90 days. 1.58% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corporation (The) (NYSE:ALL).

Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

Receive News & Ratings for Allstate Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate Corporation (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.