Sei Investments Co. reduced its position in shares of Allstate Corporation (The) (NYSE:ALL) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,142 shares of the insurance provider’s stock after selling 40,611 shares during the period. Sei Investments Co.’s holdings in Allstate Corporation (The) were worth $24,156,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALL. FNY Partners Fund LP acquired a new position in shares of Allstate Corporation (The) during the first quarter worth 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 worth $126,000 after buying an additional 122 shares in 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 worth $145,000 after buying an additional 1,482 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Allstate Corporation (The) during the first quarter worth about $160,000. Finally, Watermark Asset Management Inc. acquired a new position in shares of Allstate Corporation (The) during the first quarter worth about $170,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Allstate Corporation (ALL) opened at 93.95 on Friday. The firm has a market capitalization of $33.95 billion, a P/E ratio of 13.88 and a beta of 1.10. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $94.70. The company’s 50-day moving average price is $90.23 and its 200-day moving average price is $84.36.

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

Allstate Corporation (The) declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 63% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership 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 issued a $0.37 dividend. The ex-dividend date 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 currently 21.86%.

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ALL has been the topic of a number of recent analyst reports. Macquarie downgraded Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $78.00 to $81.00 in a research note on Tuesday, April 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Barclays PLC dropped their price objective on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. MKM Partners reissued a “buy” rating and issued a $100.00 price objective (up from $90.00) on shares of Allstate Corporation (The) in a research note on Thursday, May 4th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $90.54.

In related news, CFO Steven E. Shebik sold 35,197 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the transaction, the chief financial officer now directly owns 127,560 shares in the company, valued at approximately $12,026,356.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Matthew E. Winter sold 33,957 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $84.38, for a total transaction of $2,865,291.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,162 shares of company stock valued at $19,450,439. 1.58% of the stock is owned by company insiders.

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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