South Dakota Investment Council maintained its stake in shares of Allstate Corporation (The) (NYSE:ALL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,200 shares of the insurance provider’s stock at the end of the second quarter. South Dakota Investment Council’s holdings in Allstate Corporation (The) were worth $2,759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Henderson Group PLC boosted its stake in Allstate Corporation (The) by 1.1% during the first quarter. Henderson Group PLC now owns 47,317 shares of the insurance provider’s stock worth $3,855,000 after acquiring an additional 500 shares in the last quarter. FCA Corp TX boosted its stake in Allstate Corporation (The) by 0.7% during the first quarter. FCA Corp TX now owns 25,241 shares of the insurance provider’s stock worth $2,057,000 after acquiring an additional 180 shares in the last quarter. State Street Corp boosted its stake in Allstate Corporation (The) by 3.0% during the first quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock worth $1,472,962,000 after acquiring an additional 530,591 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Allstate Corporation (The) during the second quarter worth $1,671,000. Finally, Baird Financial Group Inc. boosted its stake in Allstate Corporation (The) by 228.4% during the first quarter. Baird Financial Group Inc. now owns 32,587 shares of the insurance provider’s stock worth $2,656,000 after acquiring an additional 22,663 shares in the last quarter. 76.51% of the stock is currently owned by institutional investors and hedge funds.

In related news, President Matthew E. Winter sold 48,058 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $88.81, for a total value of $4,268,030.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven E. Shebik sold 35,197 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 127,560 shares in the company, valued at approximately $12,026,356.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,466 shares of company stock worth $19,683,536. 1.58% of the stock is currently owned by company insiders.

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Shares of Allstate Corporation (NYSE ALL) opened at 89.61 on Monday. Allstate Corporation has a one year low of $66.55 and a one year high of $95.25. The stock has a 50 day moving average of $91.68 and a 200 day moving average of $86.21. The stock has a market cap of $32.38 billion, a P/E ratio of 13.24 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The company 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%. Allstate Corporation (The)’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. On average, analysts forecast that Allstate Corporation will post $6.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is 21.86%.

Allstate Corporation (The) declared that its board has initiated a stock buyback plan on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Several research analysts recently issued reports on the stock. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research note on Tuesday, August 1st. BidaskClub lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $91.00 price objective (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Allstate Corporation (The) in a research note on Friday, June 16th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $94.00 price objective (up from $86.00) on shares of Allstate Corporation (The) in a research note on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $91.75.

Allstate Corporation (The) 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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