Pendal Group Ltd cut its stake in shares of Allstate Corp (NYSE:ALL) by 27.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 121,292 shares of the insurance provider’s stock after selling 45,392 shares during the period. Pendal Group Ltd’s holdings in Allstate were worth $12,334,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ALL. Boston Partners lifted its position in Allstate by 17.1% during the 1st quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock worth $1,045,965,000 after acquiring an additional 1,620,871 shares in the last quarter. Geode Capital Management LLC raised its position in Allstate by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock valued at $390,468,000 after buying an additional 391,869 shares during the period. Atalanta Sosnoff Capital LLC acquired a new position in Allstate during the second quarter valued at $39,602,000. BNP Paribas Arbitrage SA raised its position in Allstate by 171.0% during the first quarter. BNP Paribas Arbitrage SA now owns 564,501 shares of the insurance provider’s stock valued at $53,165,000 after buying an additional 356,226 shares during the period. Finally, Bank of Montreal Can raised its position in Allstate by 10.9% during the first quarter. Bank of Montreal Can now owns 3,279,066 shares of the insurance provider’s stock valued at $308,822,000 after buying an additional 321,139 shares during the period. 78.26% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Glenn T. Shapiro sold 22,289 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the completion of the sale, the insider now owns 25,584 shares in the company, valued at approximately $2,615,196.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Susan L. Lees sold 30,189 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $102.26, for a total value of $3,087,127.14. Following the sale, the executive vice president now owns 62,854 shares of the company’s stock, valued at approximately $6,427,450.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,836 shares of company stock valued at $13,071,947. 1.60% of the stock is currently owned by corporate insiders.

Several research firms recently weighed in on ALL. Barclays upped their price target on Allstate from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, July 1st. Raymond James upped their price target on Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Goldman Sachs Group raised Allstate from a “neutral” rating to a “buy” rating and upped their price target for the company from $106.00 to $110.00 in a research report on Wednesday, May 29th. UBS Group upped their price target on Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley upped their target price on Allstate from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $107.25.

Shares of ALL traded up $1.63 during trading hours on Tuesday, hitting $104.48. 72,721 shares of the company were exchanged, compared to its average volume of 1,527,030. The company has a market capitalization of $34.27 billion, a P/E ratio of 12.97, a PEG ratio of 1.34 and a beta of 0.82. The company’s 50 day simple moving average is $103.15. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $109.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.28 and a current ratio of 0.28.

Allstate (NYSE:ALL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.70. The company had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.00 EPS. On average, equities analysts expect that Allstate Corp will post 9.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. Allstate’s dividend payout ratio (DPR) is presently 24.78%.

Allstate Profile

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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