RDL Financial Inc. reduced its position in shares of Allstate Corporation (The) (NYSE:ALL) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,615 shares of the insurance provider’s stock after selling 1,202 shares during the period. Allstate Corporation (The) comprises 2.3% of RDL Financial Inc.’s holdings, making the stock its 6th largest position. RDL Financial Inc.’s holdings in Allstate Corporation (The) were worth $3,554,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its stake in Allstate Corporation (The) by 8.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock valued at $126,000 after buying an additional 122 shares during the period. Oakworth Capital Inc. increased its stake in Allstate Corporation (The) by 505.8% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the insurance provider’s stock valued at $145,000 after buying an additional 1,482 shares during the period. Howard Hughes Medical Institute bought a new stake in Allstate Corporation (The) during the first quarter valued at about $160,000. Parallel Advisors LLC increased its stake in Allstate Corporation (The) by 42.4% in the first quarter. Parallel Advisors LLC now owns 2,178 shares of the insurance provider’s stock valued at $185,000 after buying an additional 648 shares during the period. Finally, Lafayette Investments Inc. bought a new stake in Allstate Corporation (The) during the first quarter valued at about $200,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Allstate Corporation (NYSE:ALL) traded down 0.03% during midday trading on Tuesday, reaching $94.21. The company had a trading volume of 1,609,140 shares. The company has a market capitalization of $34.04 billion, a PE ratio of 13.92 and a beta of 1.10. Allstate Corporation has a one year low of $66.55 and a one year high of $94.49. The stock’s 50 day moving average is $89.51 and its 200 day moving average is $83.65.

Allstate Corporation (The) (NYSE:ALL) last posted its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.48. The firm had revenue of $8.02 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Equities research analysts forecast that Allstate Corporation will post $6.44 earnings per share for the current fiscal year.

The business 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 dividend of $0.37 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. Allstate Corporation (The)’s payout ratio is presently 21.86%.

Allstate Corporation (The) announced that its Board of Directors has approved a share buyback plan on Tuesday, August 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 63% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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Several research firms have recently issued reports on ALL. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research note on Wednesday, May 3rd. Barclays PLC decreased their price target on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. BidaskClub downgraded Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. UBS AG reissued a “neutral” rating and set a $94.00 price objective (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $88.00 price objective 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 assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $89.38.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the business’s stock in a transaction 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 sale, the chief financial officer now 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 accessible through this link. Also, President Matthew E. Winter sold 48,058 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $88.81, for a total transaction of $4,268,030.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,162 shares of company stock worth $19,450,439. Insiders own 1.58% of the company’s stock.

About Allstate Corporation (The)

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.

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

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