Oakworth Capital Inc. held its stake in Allstate Corporation (The) (NYSE:ALL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,775 shares of the insurance provider’s stock at the end of the second quarter. Oakworth Capital Inc.’s holdings in Allstate Corporation (The) were worth $157,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Allstate Corporation (The) by 2,743.3% in the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after buying an additional 25,527,763 shares during the last quarter. Vanguard Group Inc. raised its stake in Allstate Corporation (The) by 3.2% in the first quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock valued at $1,926,258,000 after buying an additional 733,684 shares during the last quarter. State Street Corp raised its stake in Allstate Corporation (The) by 3.0% in the first quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock valued at $1,472,962,000 after buying an additional 530,591 shares during the last quarter. Boston Partners raised its stake in Allstate Corporation (The) by 3.8% in the first quarter. Boston Partners now owns 9,278,481 shares of the insurance provider’s stock valued at $756,103,000 after buying an additional 341,615 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Allstate Corporation (The) by 6.1% in the first quarter. AQR Capital Management LLC now owns 6,268,589 shares of the insurance provider’s stock valued at $510,828,000 after buying an additional 363,084 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Shares of Allstate Corporation (ALL) opened at 93.95 on Friday. The company has a 50-day moving average of $90.23 and a 200 day moving average of $84.36. The firm has a market cap of $33.95 billion, a P/E ratio of 13.88 and a beta of 1.10. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $94.70.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The firm had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Equities analysts predict that Allstate Corporation will post $6.50 EPS for the current year.

Allstate Corporation (The) declared that its Board of Directors has initiated a share buyback program on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 63% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be given a $0.37 dividend. 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 1.58%. Allstate Corporation (The)’s payout ratio is 21.86%.

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ALL has been the subject of several recent research reports. Barclays PLC lowered their target price on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. BidaskClub lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a research report on Saturday, June 24th. Deutsche Bank AG lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and upped their price target for the stock from $90.00 to $96.00 in a research report on Tuesday. Finally, Citigroup Inc. upped their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $90.54.

In related news, insider Harriet K. Harty sold 7,228 shares of Allstate Corporation (The) stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $88.35, for a total value of $638,593.80. Following the completion of the sale, the insider now directly owns 18,260 shares in the company, valued at $1,613,271. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven E. Shebik sold 35,197 shares of Allstate Corporation (The) stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,162 shares of company stock valued at $19,450,439. Corporate insiders own 1.58% of the company’s stock.

About Allstate Corporation (The)

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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