Evercore Wealth Management LLC lowered its position in Allstate Corporation (The) (NYSE:ALL) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,355 shares of the insurance provider’s stock after selling 15 shares during the quarter. Evercore Wealth Management LLC’s holdings in Allstate Corporation (The) were worth $120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALL. Toronto Dominion Bank boosted its stake in shares of Allstate Corporation (The) by 47.7% during the 1st quarter. Toronto Dominion Bank now owns 98,567 shares of the insurance provider’s stock worth $8,031,000 after acquiring an additional 31,835 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Allstate Corporation (The) by 129.9% during the 1st quarter. Eagle Asset Management Inc. now owns 38,767 shares of the insurance provider’s stock worth $3,159,000 after acquiring an additional 21,908 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of Allstate Corporation (The) by 3.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 154,900 shares of the insurance provider’s stock worth $12,623,000 after acquiring an additional 4,900 shares in the last quarter. Pioneer Investment Management Inc. boosted its stake in shares of Allstate Corporation (The) by 6.5% during the 1st quarter. Pioneer Investment Management Inc. now owns 81,805 shares of the insurance provider’s stock worth $6,666,000 after acquiring an additional 5,020 shares in the last quarter. Finally, Fairfield Bush & CO. bought a new stake in shares of Allstate Corporation (The) during the 1st quarter worth about $212,000. Hedge funds and other institutional investors own 76.13% of the company’s stock.

ALL has been the subject of several recent analyst reports. 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 research note on Friday, August 11th. Citigroup Inc. upped their price target on Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Deutsche Bank AG downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating and increased their target price for the company from $90.00 to $96.00 in a research note on Tuesday, August 8th. Morgan Stanley restated an “equal weight” rating and set a $91.00 target price (up previously from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Finally, BidaskClub downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $90.31.

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In other Allstate Corporation (The) news, President Matthew E. Winter sold 48,059 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan L. Lees sold 12,288 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $94.09, for a total transaction of $1,156,177.92. Following the transaction, 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. Over the last quarter, insiders sold 143,602 shares of company stock valued at $13,272,624. 1.58% of the stock is owned by company insiders.

Allstate Corporation (NYSE ALL) opened at 91.91 on Friday. Allstate Corporation has a one year low of $66.55 and a one year high of $95.25. The firm has a market capitalization of $33.21 billion, a PE ratio of 13.58 and a beta of 1.09. The stock has a 50 day moving average price of $91.89 and a 200-day moving average price of $86.77.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings results 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. 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 in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Allstate Corporation will post $5.79 earnings per share for the current year.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.61%. Allstate Corporation (The)’s payout ratio is 21.86%.

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.

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

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