Hugh Johnson Advisors LLC Has $4.11 Million Stake in Allstate Corporation (The) (ALL)
Hugh Johnson Advisors LLC decreased its position in shares of Allstate Corporation (The) (NYSE:ALL) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,466 shares of the insurance provider’s stock after selling 113 shares during the quarter. Hugh Johnson Advisors LLC’s holdings in Allstate Corporation (The) were worth $4,109,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC grew its stake in shares of Allstate Corporation (The) by 1.4% during the 2nd quarter. Teachers Advisors LLC now owns 1,113,348 shares of the insurance provider’s stock worth $98,464,000 after purchasing an additional 15,346 shares during the period. WBI Investments Inc. acquired a new stake in shares of Allstate Corporation (The) during the 2nd quarter worth approximately $877,000. South State Corp grew its stake in shares of Allstate Corporation (The) by 3.2% during the 2nd quarter. South State Corp now owns 5,620 shares of the insurance provider’s stock worth $497,000 after purchasing an additional 176 shares during the period. Raymond James Trust N.A. grew its stake in shares of Allstate Corporation (The) by 2.7% during the 2nd quarter. Raymond James Trust N.A. now owns 93,167 shares of the insurance provider’s stock worth $8,240,000 after purchasing an additional 2,445 shares during the period. Finally, Symphony Asset Management LLC acquired a new stake in shares of Allstate Corporation (The) during the 2nd quarter worth approximately $658,000. 76.51% of the stock is currently owned by institutional investors and hedge funds.
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In related news, President Matthew E. Winter sold 48,058 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $88.81, for a total transaction of $4,268,030.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Harriet K. Harty sold 7,228 shares of the stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $88.35, for a total value of $638,593.80. Following the transaction, the insider now owns 18,260 shares in the company, valued at $1,613,271. The disclosure for this sale can be found here. Insiders sold 215,466 shares of company stock worth $19,683,536 over the last 90 days. Company insiders own 1.58% of the company’s stock.
Shares of Allstate Corporation (NYSE ALL) traded down 0.7738% during mid-day trading on Wednesday, hitting $91.1591. The company’s stock had a trading volume of 497,997 shares. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $95.25. The company has a market cap of $32.94 billion, a PE ratio of 13.4652 and a beta of 1.09. The stock has a 50-day moving average of $91.74 and a 200-day moving average of $86.37.
Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) 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 business had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Allstate Corporation will post $6.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.
Allstate Corporation (The) announced that its Board of Directors has approved a stock buyback program on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 63% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of brokerages have recently commented on ALL. Barclays PLC dropped their price objective on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research report on Saturday, June 24th. UBS AG reiterated a “neutral” rating and set a $94.00 target price (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. BidaskClub lowered Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 target price 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 six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $90.38.
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.
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