State of New Jersey Common Pension Fund D continued to hold its position in shares of Allstate Corporation (The) (NYSE:ALL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,054 shares of the insurance provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Allstate Corporation (The) were worth $23,088,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Tufton Capital Management purchased a new position in shares of Allstate Corporation (The) during the second quarter valued at about $201,000. Bessemer Group Inc. increased its position in shares of Allstate Corporation (The) by 106.0% in the second quarter. Bessemer Group Inc. now owns 38,733 shares of the insurance provider’s stock valued at $3,426,000 after buying an additional 19,933 shares during the last quarter. Lee Danner & Bass Inc. increased its position in shares of Allstate Corporation (The) by 0.8% in the second quarter. Lee Danner & Bass Inc. now owns 7,839 shares of the insurance provider’s stock valued at $693,000 after buying an additional 65 shares during the last quarter. CAPROCK Group Inc. increased its position in shares of Allstate Corporation (The) by 5.5% in the second quarter. CAPROCK Group Inc. now owns 4,817 shares of the insurance provider’s stock valued at $428,000 after buying an additional 250 shares during the last quarter. Finally, Rothschild Asset Management Inc. increased its position in shares of Allstate Corporation (The) by 1.5% in the second quarter. Rothschild Asset Management Inc. now owns 514,667 shares of the insurance provider’s stock valued at $45,517,000 after buying an additional 7,715 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 94.70 on Thursday. The stock has a 50 day moving average of $89.93 and a 200-day moving average of $84.15. The stock has a market cap of $34.22 billion, a P/E ratio of 13.99 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 posted its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) 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 analysts’ expectations 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 previous year, the company earned $0.62 earnings per share. Analysts forecast that Allstate Corporation will post $6.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. 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) announced that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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Several brokerages recently issued reports on ALL. Deutsche Bank AG downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and upped their price objective for the company from $90.00 to $96.00 in a research note on Tuesday. UBS AG reaffirmed a “neutral” rating and set a $94.00 price target (up previously from $86.00) on shares of Allstate Corporation (The) in a research note on Thursday, August 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Citigroup Inc. increased their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Allstate Corporation (The) currently has an average rating of “Hold” and an average target price of $89.38.

In other Allstate Corporation (The) news, EVP Susan L. Lees sold 12,288 shares of Allstate Corporation (The) stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the completion of the sale, the executive vice president now directly owns 73,511 shares in the company, valued at $6,916,649.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven E. Shebik sold 35,197 shares of Allstate Corporation (The) stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the completion of the sale, the chief financial officer now owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The disclosure for this sale can be found here. Insiders sold 218,162 shares of company stock valued at $19,450,439 over the last quarter. 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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