Raymond James Financial Services Advisors Inc. lessened its position in Allstate Corporation (The) (NYSE:ALL) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 358,507 shares of the insurance provider’s stock after selling 1,713 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.10% of Allstate Corporation (The) worth $31,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sandy Spring Bank lifted its position in shares of Allstate Corporation (The) by 2.5% in the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 28 shares in the last quarter. Jackson Grant Investment Advisers Inc. lifted its position in shares of Allstate Corporation (The) by 0.4% in the second 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 in the last quarter. IHT Wealth Management LLC lifted its position in shares of Allstate Corporation (The) by 46.6% in the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 405 shares in the last quarter. FNY Partners Fund LP purchased a new position in shares of Allstate Corporation (The) in the first quarter valued at approximately $122,000. Finally, Bronfman E.L. Rothschild L.P. lifted its position in shares of Allstate Corporation (The) by 8.5% in the first 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 in the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.

In related news, CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $94.28, for a total value of $3,318,373.16. Following the transaction, the chief financial officer now directly owns 127,560 shares of the company’s stock, valued at approximately $12,026,356.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Matthew E. Winter sold 48,058 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.54, for a total value 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 worth $13,272,624. Corporate insiders own 1.58% of the company’s stock.

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Allstate Corporation (NYSE:ALL) traded up 0.01% during midday trading on Monday, reaching $93.30. The company’s stock had a trading volume of 264,203 shares. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 13.78 and a beta of 1.08. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. The company has a 50 day moving average price of $91.07 and a 200 day moving average price of $87.60.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.99 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Allstate Corporation will post $5.93 EPS for the current year.

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.

Allstate Corporation (The) declared that its Board of Directors has authorized a stock repurchase program on Tuesday, August 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 63% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

A number of equities analysts recently commented on ALL shares. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research report on Thursday, June 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 price objective on shares of Allstate Corporation (The) in a research report on Friday, June 16th. BidaskClub upgraded Allstate Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Barclays PLC reduced their price objective on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $91.00 price objective (up previously from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $90.50.

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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