Walter & Keenan Financial Consulting Co. MI ADV held its stake in Allstate Corporation (The) (NYSE:ALL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,681 shares of the insurance provider’s stock at the end of the second quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Allstate Corporation (The) were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Fox Run Management L.L.C. raised its stake in Allstate Corporation (The) by 28.6% in the first quarter. Fox Run Management L.L.C. now owns 6,300 shares of the insurance provider’s stock worth $513,000 after buying an additional 1,400 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in Allstate Corporation (The) by 1.5% in the first quarter. CHICAGO TRUST Co NA now owns 4,788 shares of the insurance provider’s stock worth $390,000 after buying an additional 73 shares during the last quarter. Pinnacle Bank acquired a new stake in Allstate Corporation (The) during the first quarter worth $214,000. Washington Trust Bank raised its stake in Allstate Corporation (The) by 3.9% in the first quarter. Washington Trust Bank now owns 3,805 shares of the insurance provider’s stock worth $310,000 after buying an additional 143 shares during the last quarter. Finally, Capital Investment Advisors LLC acquired a new stake in Allstate Corporation (The) during the first quarter worth $644,000. Institutional investors and hedge funds own 76.91% of the company’s stock.

Shares of Allstate Corporation (NYSE ALL) opened at 94.38 on Wednesday. The company’s 50-day moving average price is $90.58 and its 200-day moving average price is $84.77. The company has a market cap of $34.11 billion, a P/E ratio of 13.94 and a beta of 1.10. Allstate Corporation has a 12 month low of $66.55 and a 12 month high of $94.83.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter in the prior year, the business earned $0.62 EPS. Allstate Corporation (The)’s revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Allstate Corporation will post $6.50 EPS for the current fiscal year.

Allstate Corporation (The) announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 63% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio (DPR) is 21.86%.

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A number of equities analysts have recently issued reports on ALL shares. Macquarie downgraded Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $81.00 in a research report on Tuesday, April 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research report on Wednesday, May 3rd. MKM Partners reissued a “buy” rating and set a $100.00 price target (up previously from $90.00) on shares of Allstate Corporation (The) in a research report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $88.00 price target on shares of Allstate Corporation (The) in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Allstate Corporation (The) currently has a consensus rating of “Hold” and an average target price of $90.54.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the sale, the chief financial officer now owns 127,560 shares in the company, valued at approximately $12,026,356.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Harriet K. Harty sold 7,228 shares of the company’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 owns 18,260 shares in the company, valued at approximately $1,613,271. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,205 shares of company stock worth $16,585,147. 1.58% of the stock is owned by company 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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