Korea Investment CORP increased its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 866,849 shares of the insurance provider’s stock after buying an additional 24,466 shares during the period. Korea Investment CORP’s holdings in Allstate Corporation (The) were worth $76,664,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in 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 worth $2,156,089,000 after buying an additional 25,527,763 shares during the last quarter. Victory Capital Management Inc. boosted its position in 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 worth $169,536,000 after buying an additional 1,479,694 shares during the last quarter. Ameriprise Financial Inc. boosted its position in 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 worth $322,883,000 after buying an additional 1,258,952 shares during the last quarter. Bank of New York Mellon Corp boosted its position in 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 worth $387,575,000 after buying an additional 792,583 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in 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 worth $1,926,258,000 after buying an additional 733,684 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Shares of Allstate Corporation (NYSE ALL) opened at 93.95 on Friday. The firm has a market capitalization of $33.95 billion, a P/E ratio of 13.88 and a beta of 1.10. Allstate Corporation has a 52-week low of $66.55 and a 52-week 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 released its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating the Zacks’ 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 net margin of 7.02% and a return on equity of 12.73%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Equities analysts expect that Allstate Corporation will post $6.50 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio (DPR) is presently 21.86%.

Allstate Corporation (The) declared that its board has approved a stock buyback program on Tuesday, August 1st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 63% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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A number of equities analysts recently commented on ALL shares. Barclays PLC reduced their price target on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a report on Saturday, June 24th. Deutsche Bank AG cut Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price target for the stock from $90.00 to $96.00 in a report on Tuesday, August 8th. Finally, Citigroup Inc. lifted their price target on Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Allstate Corporation (The) has a consensus rating of “Hold” and an average price target of $90.54.

In related news, insider Sanjay Gupta sold 16,798 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $86.00, for a total value of $1,444,628.00. Following the completion of the transaction, the insider now directly owns 65,798 shares of the company’s stock, valued at approximately $5,658,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Matthew E. Winter sold 33,957 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $84.38, for a total transaction of $2,865,291.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,162 shares of company stock valued at $19,450,439. 1.58% of the stock is 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.

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

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