World Asset Management Inc reduced its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,927 shares of the insurance provider’s stock after selling 4,188 shares during the period. World Asset Management Inc’s holdings in Allstate Corporation (The) were worth $3,089,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its stake in shares of Allstate Corporation (The) by 0.3% in the second quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock valued at $273,000 after buying an additional 9 shares during the last quarter. Intrust Bank NA raised its stake in shares of Allstate Corporation (The) by 0.3% in the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock valued at $615,000 after buying an additional 23 shares during the last quarter. CAPROCK Group Inc. raised its stake in shares of Allstate Corporation (The) by 0.6% in the first quarter. CAPROCK Group Inc. now owns 4,567 shares of the insurance provider’s stock valued at $372,000 after buying an additional 28 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Allstate Corporation (The) by 1.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,709 shares of the insurance provider’s stock valued at $219,000 after buying an additional 35 shares during the last quarter. Finally, Buckingham Asset Management LLC raised its stake in shares of Allstate Corporation (The) by 1.2% in the first quarter. Buckingham Asset Management LLC now owns 3,897 shares of the insurance provider’s stock valued at $318,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Allstate Corporation (ALL) opened at 94.16 on Friday. The stock has a market capitalization of $34.03 billion, a PE ratio of 13.91 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 company’s 50-day moving average price is $90.07 and its 200 day moving average price is $84.22.

Allstate Corporation (The) (NYSE:ALL) last announced its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The company had revenue of $8.02 billion for the quarter, compared to analysts’ expectations of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. Allstate Corporation (The)’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. Equities analysts forecast that Allstate Corporation will post $6.50 EPS for the current fiscal year.

The firm 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 dividend on an annualized basis and a yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.

Allstate Corporation (The) announced that its board has approved a share buyback plan on Tuesday, August 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 63% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “World Asset Management Inc Lowers Position in Allstate Corporation (The) (ALL)” was reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.watchlistnews.com/world-asset-management-inc-lowers-position-in-allstate-corporation-the-all/1472564.html.

Several analysts have issued reports on the company. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a research note on Wednesday, May 3rd. Barclays PLC lowered their target price on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. BidaskClub lowered Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. UBS Group AG restated a “neutral” rating and issued a $94.00 target price (up from $86.00) on shares of Allstate Corporation (The) in a research note on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $88.00 target price on shares of Allstate Corporation (The) in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $89.38.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the firm’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 directly owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 73,511 shares in the company, valued at $6,916,649.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,162 shares of company stock worth $19,450,439. 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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corporation (The) (NYSE:ALL).

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

Receive News & Ratings for Allstate Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate Corporation (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.