Twin Tree Management LP acquired a new stake in shares of Allstate Corporation (The) (NYSE:ALL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,003 shares of the insurance provider’s stock, valued at approximately $1,238,000.

Other hedge funds have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. grew its position in shares of Allstate Corporation (The) by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 5 shares during the period. FNY Partners Fund LP bought a new stake in shares of Allstate Corporation (The) during the 1st quarter valued at $122,000. Bronfman E.L. Rothschild L.P. grew its position in shares of Allstate Corporation (The) by 8.5% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 122 shares during the period. Watermark Asset Management Inc. bought a new stake in shares of Allstate Corporation (The) during the 1st quarter valued at $170,000. Finally, Parallel Advisors LLC grew its position in shares of Allstate Corporation (The) by 42.4% during the 1st quarter. Parallel Advisors LLC now owns 2,178 shares of the insurance provider’s stock valued at $185,000 after acquiring an additional 648 shares during the period. 76.51% of the stock is owned by hedge funds and other institutional investors.

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Shares of Allstate Corporation (NYSE ALL) traded down 1.87% on Thursday, reaching $85.86. 863,648 shares of the company traded hands. The stock has a market capitalization of $31.03 billion, a price-to-earnings ratio of 12.68 and a beta of 1.09. The company has a 50-day moving average of $91.75 and a 200-day moving average of $86.19. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. Allstate Corporation (The) also saw some unusual options trading on Wednesday. Stock traders acquired 10,358 put options on the stock. This is an increase of approximately 511% compared to the typical daily volume of 1,696 put options.

Allstate Corporation (The) (NYSE:ALL) last released its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The company had revenue of $8.02 billion for the quarter, compared to analysts’ expectations of $7.99 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Allstate Corporation will post $6.43 earnings per share for the current fiscal year.

The firm 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 of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.69%. Allstate Corporation (The)’s dividend payout ratio (DPR) is presently 21.86%.

Allstate Corporation (The) declared that its board has authorized a stock 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 reacquire up to 63% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

ALL has been the subject of a number of recent research reports. Barclays PLC cut their price objective on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. BidaskClub downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research report on Saturday, June 24th. Deutsche Bank AG downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and boosted their price objective for the company from $90.00 to $96.00 in a research report on Tuesday, August 8th. Finally, Citigroup Inc. boosted their price objective on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.75.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of Allstate Corporation (The) 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 transaction, the chief financial officer now owns 127,560 shares of the company’s stock, valued at approximately $12,026,356.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Matthew E. Winter sold 48,059 shares of Allstate Corporation (The) stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total value of $4,543,017.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,466 shares of company stock worth $19,683,536. Company 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.

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

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