Xact Kapitalforvaltning AB lowered its stake in Allstate Corporation (The) (NYSE:ALL) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,271 shares of the insurance provider’s stock after selling 98 shares during the period. Xact Kapitalforvaltning AB’s holdings in Allstate Corporation (The) were worth $4,181,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intrust Bank NA increased its position in 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. increased its position in 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 increased its position in 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. Buckingham Asset Management LLC increased its position in 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. Finally, Quadrant Capital Group LLC increased its position in Allstate Corporation (The) by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 4,431 shares of the insurance provider’s stock valued at $350,000 after buying an additional 55 shares during the last quarter. Institutional investors own 76.91% of the company’s stock.

Shares of Allstate Corporation (NYSE:ALL) traded down 0.44% during mid-day trading on Friday, reaching $92.92. The company’s stock had a trading volume of 2,595,339 shares. The company’s 50-day moving average is $91.03 and its 200-day moving average is $85.02. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $95.25. The stock has a market capitalization of $33.58 billion, a price-to-earnings ratio of 13.73 and a beta of 1.10.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The company had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Allstate Corporation (The)’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts predict that Allstate Corporation will post $6.51 EPS for the current year.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.59%. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.

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A number of brokerages have recently issued reports on ALL. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a report on Wednesday, May 3rd. Barclays PLC cut their price target on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, July 3rd. BidaskClub downgraded Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. UBS AG reiterated a “neutral” rating and issued a $94.00 price target (up from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $88.00 price target on shares of Allstate Corporation (The) in a report on Friday, June 16th. One 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. Allstate Corporation (The) has a consensus rating of “Hold” and an average price target of $90.54.

In other news, insider Sanjay Gupta sold 16,798 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $86.00, for a total transaction of $1,444,628.00. Following the completion of the sale, the insider now owns 65,798 shares in the company, valued at $5,658,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Matthew E. Winter sold 48,058 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were 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. Insiders sold 232,264 shares of company stock valued at $21,128,164 in the last 90 days. 1.58% of the stock is currently owned by 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.

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

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