Allstate Corp. (ALL) Stake Increased by Advisors Asset Management Inc.
Advisors Asset Management Inc. raised its stake in Allstate Corp. (NYSE:ALL) by 8.9% during the second quarter, Holdings Channel reports. The fund owned 15,547 shares of the company’s stock after buying an additional 1,277 shares during the period. Advisors Asset Management Inc.’s holdings in Allstate Corp. were worth $1,088,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ALL. Edgar Lomax Co. VA boosted its stake in Allstate Corp. by 2.2% in the first quarter. Edgar Lomax Co. VA now owns 953,873 shares of the company’s stock valued at $64,262,000 after buying an additional 20,250 shares during the last quarter. Wellington Management Group LLP boosted its stake in Allstate Corp. by 492.6% in the first quarter. Wellington Management Group LLP now owns 514,751 shares of the company’s stock valued at $34,680,000 after buying an additional 427,882 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Allstate Corp. by 236.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 99,006 shares of the company’s stock valued at $6,789,000 after buying an additional 69,600 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Allstate Corp. by 4,833.1% in the first quarter. Renaissance Technologies LLC now owns 607,900 shares of the company’s stock valued at $40,954,000 after buying an additional 595,577 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Allstate Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 1,845,543 shares of the company’s stock valued at $124,342,000 after buying an additional 8,135 shares during the last quarter. Hedge funds and other institutional investors own 76.39% of the company’s stock.
Shares of Allstate Corp. (NYSE:ALL) traded up 0.86% during mid-day trading on Tuesday, reaching $68.04. The company’s stock had a trading volume of 848,373 shares. The company’s 50-day moving average is $68.69 and its 200 day moving average is $67.62. The firm has a market cap of $25.27 billion, a price-to-earnings ratio of 17.13 and a beta of 1.00. Allstate Corp. has a 12 month low of $56.03 and a 12 month high of $70.38.
Allstate Corp. (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. The company earned $9.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. Allstate Corp.’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Allstate Corp. will post $4.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, August 29th. Allstate Corp.’s payout ratio is 33.59%.
Several equities research analysts have weighed in on ALL shares. Credit Suisse Group AG set a $73.00 target price on Allstate Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Argus reiterated a “buy” rating and issued a $76.00 price target on shares of Allstate Corp. in a research note on Friday, September 2nd. MKM Partners reiterated a “buy” rating on shares of Allstate Corp. in a research note on Thursday, June 16th. Zacks Investment Research cut Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Finally, Macquarie reiterated an “outperform” rating and issued a $78.00 price target on shares of Allstate Corp. in a research note on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of GBX 71.31 ($0.93).
In related news, insider Harriet K. Harty sold 6,779 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of GBX 68.64 ($0.90), for a total value of £4,653.11 ($6,073.76). Following the sale, the insider now owns 12,316 shares in the company, valued at £8,453.70 ($11,034.72). The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Shebik sold 41,334 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of GBX 68.86 ($0.90), for a total transaction of £28,462.59 ($37,152.58). Following the completion of the sale, the chief financial officer now owns 102,959 shares in the company, valued at approximately £70,897.57 ($92,543.49). The disclosure for this sale can be found here. Insiders own 1.58% of the company’s stock.
Allstate Corp. Company Profile
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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