Lazard Asset Management LLC trimmed its holdings in shares of Allstate Corporation (The) (NYSE:ALL) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,293 shares of the insurance provider’s stock after selling 27,979 shares during the quarter. Lazard Asset Management LLC owned 0.05% of Allstate Corporation (The) worth $16,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Sandy Spring Bank grew its stake in Allstate Corporation (The) by 2.5% during the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 28 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in Allstate Corporation (The) by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 5 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Allstate Corporation (The) during the 1st quarter valued at about $122,000. Bronfman E.L. Rothschild L.P. grew its stake in Allstate Corporation (The) by 8.5% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 122 shares during the last quarter. Finally, Acrospire Investment Management LLC grew its stake in Allstate Corporation (The) by 33.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,598 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.

ALL has been the topic of several research analyst reports. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research note on Tuesday, August 1st. Citigroup Inc. boosted their price target on Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. BidaskClub downgraded Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. 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 research note on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 price target on shares of Allstate Corporation (The) in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Allstate Corporation (The) has a consensus rating of “Hold” and an average price target of $90.31.

Allstate Corporation (NYSE ALL) opened at 90.67 on Friday. Allstate Corporation has a one year low of $66.55 and a one year high of $95.25. The stock has a 50 day moving average price of $91.89 and a 200 day moving average price of $86.77. The firm has a market cap of $32.76 billion, a PE ratio of 13.39 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter last year, the company posted $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 $6.32 EPS for the current year.

Allstate Corporation (The) announced that its Board of Directors has authorized a share buyback plan on Tuesday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 63% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.

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In related news, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Susan L. Lees sold 12,288 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $94.09, for a total value of $1,156,177.92. Following the transaction, the executive vice president now directly owns 73,511 shares in the company, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,830 shares of company stock worth $13,911,217. Corporate insiders own 1.58% of the company’s stock.

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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