Braun Stacey Associates Inc. raised its stake in Allstate Corporation (The) (NYSE:ALL) by 25.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,789 shares of the insurance provider’s stock after buying an additional 31,632 shares during the period. Braun Stacey Associates Inc.’s holdings in Allstate Corporation (The) were worth $13,778,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. FNY Partners Fund LP acquired a new position in shares of Allstate Corporation (The) during the first quarter valued at about $122,000. Bronfman E.L. Rothschild L.P. increased 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 buying an additional 122 shares during the last quarter. Oakworth Capital Inc. increased its position in shares of Allstate Corporation (The) by 505.8% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the insurance provider’s stock valued at $145,000 after buying an additional 1,482 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Allstate Corporation (The) during the first quarter valued at about $160,000. Finally, Watermark Asset Management Inc. acquired a new position in shares of Allstate Corporation (The) during the first quarter valued at about $170,000. 77.04% of the stock is currently owned by institutional investors.

Shares of Allstate Corporation (ALL) opened at 94.16 on Friday. The company has a 50 day moving average of $90.07 and a 200 day moving average of $84.22. The firm has a market cap of $34.03 billion, a PE ratio of 13.91 and a beta of 1.10. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $94.70.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to analysts’ expectations of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. On average, equities research analysts anticipate that Allstate Corporation will post $6.50 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.

Allstate Corporation (The) announced that its board has approved a share buyback plan on Tuesday, August 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 63% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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ALL has been the topic of several analyst reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. Macquarie downgraded shares of Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $78.00 to $81.00 in a report on Tuesday, April 18th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “equal weight” rating and issued a $91.00 target price (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. MKM Partners reaffirmed a “buy” rating and issued a $100.00 target price (up previously from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued 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 issued a hold rating and seven have assigned a buy rating to the stock. Allstate Corporation (The) has a consensus rating of “Hold” and a consensus price target of $89.38.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the firm’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 sale, the chief financial officer now directly owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the sale, the executive vice president now directly owns 73,511 shares in the company, valued at $6,916,649.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,162 shares of company stock worth $19,450,439. Insiders own 1.58% of the company’s stock.

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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