Swiss National Bank decreased its holdings in shares of Allstate Corp (NYSE:ALL) by 5.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,489,273 shares of the insurance provider’s stock after selling 78,400 shares during the period. Swiss National Bank’s holdings in Allstate were worth $151,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in ALL. Boston Partners lifted its holdings in Allstate by 17.1% during the 1st quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock valued at $1,045,965,000 after purchasing an additional 1,620,871 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Allstate by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock valued at $390,468,000 after purchasing an additional 391,869 shares during the last quarter. Atalanta Sosnoff Capital LLC acquired a new stake in Allstate during the 2nd quarter valued at $39,602,000. BNP Paribas Arbitrage SA lifted its holdings in Allstate by 171.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 564,501 shares of the insurance provider’s stock valued at $53,165,000 after purchasing an additional 356,226 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Allstate by 10.9% during the 1st quarter. Bank of Montreal Can now owns 3,279,066 shares of the insurance provider’s stock valued at $308,822,000 after purchasing an additional 321,139 shares during the last quarter. 78.26% of the stock is owned by institutional investors and hedge funds.
ALL stock traded up $1.38 during trading hours on Friday, hitting $103.22. 1,939,900 shares of the stock were exchanged, compared to its average volume of 1,571,705. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $33.98 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.31 and a beta of 0.82. The company has a 50-day simple moving average of $103.29 and a two-hundred day simple moving average of $97.82. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $109.13.
Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.70. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The firm had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter last year, the business earned $2.00 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Allstate Corp will post 9.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, August 29th. Allstate’s payout ratio is currently 24.78%.
In related news, Director Judith A. Sprieser sold 2,225 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $102.63, for a total value of $228,351.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Steven E. Shebik sold 35,014 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $103.64, for a total value of $3,628,850.96. Following the completion of the transaction, the insider now owns 121,476 shares in the company, valued at approximately $12,589,772.64. The disclosure for this sale can be found here. Insiders sold 126,836 shares of company stock worth $13,071,947 in the last 90 days. 1.60% of the stock is owned by company insiders.
Several research firms have weighed in on ALL. Morgan Stanley increased their price objective on Allstate from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday. Credit Suisse Group cut Allstate from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $100.00 to $94.00 in a research report on Thursday, July 11th. Raymond James increased their price objective on Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. Barclays set a $125.00 price objective on Allstate and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Goldman Sachs Group upgraded Allstate from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $108.25.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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