Carret Asset Management LLC lifted its stake in Allstate Corporation (The) (NYSE:ALL) by 11.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,678 shares of the insurance provider’s stock after purchasing an additional 6,525 shares during the quarter. Allstate Corporation (The) comprises approximately 1.0% of Carret Asset Management LLC’s holdings, making the stock its 29th largest position. Carret Asset Management LLC’s holdings in Allstate Corporation (The) were worth $5,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new stake in shares of Allstate Corporation (The) in the 2nd quarter worth approximately $1,671,000. State of Tennessee Treasury Department boosted its position in shares of Allstate Corporation (The) by 16.7% in the 2nd quarter. State of Tennessee Treasury Department now owns 593,694 shares of the insurance provider’s stock worth $52,506,000 after purchasing an additional 85,026 shares in the last quarter. State Street Corp boosted its position in shares of Allstate Corporation (The) by 3.0% in the 1st quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock worth $1,472,962,000 after purchasing an additional 530,591 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Allstate Corporation (The) by 228.4% in the 1st quarter. Baird Financial Group Inc. now owns 32,587 shares of the insurance provider’s stock worth $2,656,000 after purchasing an additional 22,663 shares in the last quarter. Finally, Park National Corp OH boosted its position in shares of Allstate Corporation (The) by 1.7% in the 2nd quarter. Park National Corp OH now owns 15,576 shares of the insurance provider’s stock worth $1,378,000 after purchasing an additional 256 shares in the last quarter. 76.13% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research report on Tuesday, August 1st. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Morgan Stanley reissued an “equal weight” rating and issued a $91.00 price target (up from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Allstate Corporation (The) in a research report on Friday, June 16th. Finally, 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 report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $90.50.

Shares of Allstate Corporation (NYSE:ALL) traded down 0.0337% during midday trading on Friday, reaching $93.1586. 268,358 shares of the company’s stock were exchanged. The firm has a market cap of $33.66 billion, a PE ratio of 13.7605 and a beta of 1.08. Allstate Corporation has a one year low of $66.55 and a one year high of $95.25. The stock’s 50-day moving average is $91.07 and its 200 day moving average is $87.52.

Allstate Corporation (The) (NYSE:ALL) last announced its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The company had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same period last year, the firm earned $0.62 earnings per share. Allstate Corporation (The)’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Allstate Corporation will post $5.93 EPS for the current year.

Allstate Corporation (The) announced that its board has approved a stock buyback program on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 63% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. Allstate Corporation (The)’s payout ratio is currently 21.86%.

In other news, President Matthew E. Winter sold 48,059 shares of Allstate Corporation (The) stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total transaction of $4,543,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of Allstate Corporation (The) stock in a transaction 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 of the company’s stock, valued at $6,916,649.99. The disclosure for this sale can be found here. Insiders have sold 143,602 shares of company stock valued at $13,272,624 over the last quarter. Insiders own 1.58% of the company’s stock.

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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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