Sii Investments Inc. WI Has $4.38 Million Holdings in Allstate Corp (ALL)
Sii Investments Inc. WI raised its holdings in Allstate Corp (NYSE:ALL) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,425 shares of the insurance provider’s stock after buying an additional 3,742 shares during the quarter. Sii Investments Inc. WI’s holdings in Allstate Corp were worth $4,379,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ALL. FCA Corp TX lifted its holdings in shares of Allstate Corp by 0.7% during the 1st 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 during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Allstate Corp during the 2nd quarter valued at about $1,671,000. State of Tennessee Treasury Department boosted its position in shares of Allstate Corp by 16.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 593,694 shares of the insurance provider’s stock valued at $52,506,000 after acquiring an additional 85,026 shares in the last quarter. State Street Corp boosted its position in shares of Allstate Corp by 3.0% during the 1st quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock valued at $1,472,962,000 after acquiring an additional 530,591 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Allstate Corp by 228.4% during the 1st quarter. Baird Financial Group Inc. now owns 32,587 shares of the insurance provider’s stock valued at $2,656,000 after acquiring an additional 22,663 shares in the last quarter. 76.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on ALL shares. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corp in a research note on Thursday, June 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $88.00 price target on shares of Allstate Corp in a research note on Friday, June 16th. BidaskClub raised Allstate Corp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Barclays PLC decreased their price objective on Allstate Corp from $101.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, July 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $91.00 price objective (up from $85.00) on shares of Allstate Corp in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $90.62.
In related news, EVP Susan L. Lees sold 12,288 shares of Allstate Corp stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $94.09, for a total transaction of $1,156,177.92. Following the sale, the executive vice president now directly owns 73,511 shares of the company’s stock, valued at approximately $6,916,649.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matthew E. Winter sold 48,058 shares of Allstate Corp stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.54, for a total transaction of $4,255,055.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,602 shares of company stock valued at $13,272,624. Insiders own 1.58% of the company’s stock.
Allstate Corp (ALL) traded down 0.850% during trading on Tuesday, reaching $91.595. The company’s stock had a trading volume of 515,604 shares. Allstate Corp has a 1-year low of $66.55 and a 1-year high of $95.25. The stock has a market cap of $33.10 billion, a P/E ratio of 13.530 and a beta of 1.08. The company’s 50 day moving average price is $91.21 and its 200-day moving average price is $87.38.
Allstate Corp (NYSE:ALL) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. Allstate Corp had a return on equity of 11.26% and a net margin of 6.01%. Allstate Corp’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Equities analysts forecast that Allstate Corp will post $5.79 earnings per share for the current fiscal year.
Allstate Corp announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 63% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, August 29th. Allstate Corp’s payout ratio is 21.86%.
About Allstate Corp
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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