DAVENPORT & Co LLC decreased its position in Allstate Corp (NYSE:ALL) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,487 shares of the insurance provider’s stock after selling 203 shares during the quarter. DAVENPORT & Co LLC’s holdings in Allstate were worth $629,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pitcairn Co. lifted its position in Allstate by 10.5% during the 2nd quarter. Pitcairn Co. now owns 8,247 shares of the insurance provider’s stock worth $800,000 after buying an additional 783 shares in the last quarter. CIBC Asset Management Inc lifted its position in Allstate by 2.0% during the 2nd quarter. CIBC Asset Management Inc now owns 38,574 shares of the insurance provider’s stock worth $3,741,000 after buying an additional 751 shares in the last quarter. Mckinley Capital Management LLC Delaware lifted its position in Allstate by 32.6% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 131,473 shares of the insurance provider’s stock worth $12,752,000 after buying an additional 32,313 shares in the last quarter. Actinver Wealth Management Inc. acquired a new position in Allstate during the 2nd quarter valued at about $335,000. Finally, Donaldson Capital Management LLC acquired a new position in Allstate during the 2nd quarter valued at about $307,000. 76.53% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on ALL. Credit Suisse Group restated a “hold” rating on shares of Allstate in a research report on Thursday, July 9th. Raymond James upped their target price on shares of Allstate from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 21st. TheStreet upgraded shares of Allstate from a “c+” rating to a “b-” rating in a research report on Tuesday, April 21st. Bank of America initiated coverage on Allstate in a research note on Monday, June 1st. They issued a “buy” rating for the company. Finally, Morgan Stanley lowered their price target on Allstate from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $115.47.
In other news, Director Judith A. Sprieser sold 1,783 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $99.03, for a total transaction of $176,570.49. Following the completion of the transaction, the director now directly owns 1,783 shares of the company’s stock, valued at approximately $176,570.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mario Rizzo sold 6,670 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $101.39, for a total transaction of $676,271.30. Following the transaction, the chief financial officer now directly owns 28,235 shares of the company’s stock, valued at $2,862,746.65. The disclosure for this sale can be found here. Insiders have sold a total of 664,021 shares of company stock valued at $67,275,235 over the last ninety days. Company insiders own 1.80% of the company’s stock.
NYSE ALL opened at $94.39 on Friday. The business has a 50 day simple moving average of $93.76 and a 200 day simple moving average of $101.57. Allstate Corp has a 52-week low of $64.13 and a 52-week high of $125.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $29.65 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.15 and a beta of 0.88.
Allstate (NYSE:ALL) last posted its earnings results on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.62. Allstate had a return on equity of 17.53% and a net margin of 9.38%. The business had revenue of $9.24 billion during the quarter, compared to analysts’ expectations of $9.64 billion. During the same period in the prior year, the business earned $2.30 EPS. Allstate’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Allstate Corp will post 10.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $2.16 annualized dividend and a dividend yield of 2.29%. Allstate’s dividend payout ratio is currently 20.71%.
Allstate Company Profile
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.
Featured Story: Understanding Market Liquidity
Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corp (NYSE:ALL).
Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.