Rand Wealth LLC boosted its position in Allstate Corporation (The) (NYSE:ALL) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,450 shares of the insurance provider’s stock after buying an additional 279 shares during the period. Rand Wealth LLC’s holdings in Allstate Corporation (The) were worth $1,455,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ALL. BlackRock Inc. boosted its stake in shares of 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 valued at $2,156,089,000 after buying an additional 25,527,763 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 valued at $169,536,000 after buying an additional 1,479,694 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of 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 valued at $322,883,000 after buying an additional 1,258,952 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $387,575,000 after buying an additional 792,583 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 valued at $1,926,258,000 after buying an additional 733,684 shares during the last quarter. 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 firm’s 50-day moving average is $90.23 and its 200-day moving average is $84.36. The company has a market cap of $33.95 billion, a PE 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.

Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.99 billion. During the same period last year, the company earned $0.62 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Allstate Corporation will post $6.50 EPS for the current 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 given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is 21.86%.

Allstate Corporation (The) announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 1st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the insurance provider to purchase up to 63% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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

In related news, EVP Susan L. Lees sold 12,288 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 73,511 shares of the company’s stock, valued at approximately $6,916,649.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Harriet K. Harty sold 7,228 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $88.35, for a total value of $638,593.80. Following the sale, the insider now directly owns 18,260 shares of the company’s stock, valued at $1,613,271. The disclosure for this sale can be found here. Insiders have sold a total of 218,162 shares of company stock valued at $19,450,439 over the last three months. Corporate insiders own 1.58% of the company’s stock.

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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