Harding Loevner LP held its position 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. The fund owned 3,058 shares of the insurance provider’s stock at the close of the second quarter. Harding Loevner LP’s holdings in Allstate Corporation (The) were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Jackson Grant Investment Advisers Inc. lifted its holdings in Allstate Corporation (The) by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock worth $108,000 after acquiring an additional 5 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Allstate Corporation (The) by 0.3% during the second quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock worth $273,000 after acquiring an additional 9 shares in the last quarter. Brighton Jones LLC lifted its holdings in Allstate Corporation (The) by 0.3% during the second quarter. Brighton Jones LLC now owns 3,313 shares of the insurance provider’s stock worth $293,000 after acquiring an additional 10 shares in the last quarter. Intrust Bank NA lifted its holdings in Allstate Corporation (The) by 0.3% during the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock worth $615,000 after acquiring an additional 23 shares in the last quarter. Finally, Sandy Spring Bank lifted its holdings in Allstate Corporation (The) by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.

In related news, President Matthew E. Winter sold 48,059 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 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 sale, 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. Insiders sold a total of 150,830 shares of company stock worth $13,911,217 in the last 90 days. 1.58% of the stock is currently owned by company insiders.

Several research analysts have weighed in on ALL shares. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. Citigroup Inc. lifted their target price on Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. BidaskClub lowered Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and set a $91.00 target price (up from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 target price on shares of Allstate Corporation (The) in a 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 target price of $90.31.

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/24/allstate-corporation-the-all-position-held-by-harding-loevner-lp.html.

Allstate Corporation (ALL) traded down 0.15% during mid-day trading on Friday, hitting $90.53. The company’s stock had a trading volume of 1,155,245 shares. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $95.25. The firm has a market cap of $32.71 billion, a price-to-earnings ratio of 13.37 and a beta of 1.09. The firm has a 50 day moving average of $91.89 and a 200-day moving average of $86.77.

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, 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%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, equities research analysts expect that Allstate Corporation will post $6.10 EPS for the current fiscal year.

Allstate Corporation (The) announced that its board has authorized a share buyback program on Tuesday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 63% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.63%. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.

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)

Receive News & Stock Ratings for Allstate Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate Corporation (The) and related stocks with our FREE daily email newsletter.