King Luther Capital Management Corp raised its stake in Allstate Corporation (The) (NYSE:ALL) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,941 shares of the insurance provider’s stock after buying an additional 14,358 shares during the period. King Luther Capital Management Corp owned 0.05% of Allstate Corporation (The) worth $16,533,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in shares of Allstate Corporation (The) by 32.3% during the first quarter. Acadian Asset Management LLC now owns 3,032 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 741 shares during the period. Copeland Capital Management LLC lifted its holdings in shares of Allstate Corporation (The) by 19.1% during the first quarter. Copeland Capital Management LLC now owns 99,051 shares of the insurance provider’s stock worth $8,108,000 after purchasing an additional 15,873 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Allstate Corporation (The) by 50.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 549,217 shares of the insurance provider’s stock worth $44,903,000 after purchasing an additional 184,561 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Allstate Corporation (The) by 59.4% during the first quarter. Daiwa Securities Group Inc. now owns 15,300 shares of the insurance provider’s stock worth $1,247,000 after purchasing an additional 5,700 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Allstate Corporation (The) by 6.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 7,932 shares of the insurance provider’s stock worth $646,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 76.51% of the company’s stock.

Allstate Corporation (ALL) traded up 0.32% during midday trading on Friday, reaching $90.79. 457,193 shares of the company’s stock traded hands. The company’s 50-day moving average price is $91.85 and its 200-day moving average price is $86.51. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $95.25. The stock has a market cap of $32.81 billion, a P/E ratio of 13.41 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share 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 business had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Allstate Corporation will post $6.33 EPS for the current fiscal year.

Allstate Corporation (The) announced that its board has approved a stock buyback program on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 63% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.64%. Allstate Corporation (The)’s dividend payout ratio is 21.86%.

ALL has been the topic of a number of recent research reports. Barclays PLC lifted their price target on shares of Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Citigroup Inc. lifted their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Deutsche Bank AG lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price target for the stock from $90.00 to $96.00 in a report on Tuesday, August 8th. Morgan Stanley reiterated an “equal weight” rating and set a $91.00 price target (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. Finally, BidaskClub lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $90.38.

In other news, insider Harriet K. Harty sold 7,228 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were 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 of the company’s stock, valued at approximately $1,613,271. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Matthew E. Winter sold 48,059 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $94.53, for a total transaction of $4,543,017.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,830 shares of company stock valued at $13,911,217. Corporate insiders own 1.58% of the company’s stock.

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Allstate Corporation (The) 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.

Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

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