Great Lakes Advisors LLC Has $816,000 Stake in Allstate Corp (ALL)
Great Lakes Advisors LLC decreased its holdings in shares of Allstate Corp (NYSE:ALL) by 39.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,266 shares of the insurance provider’s stock after selling 5,383 shares during the quarter. Great Lakes Advisors LLC’s holdings in Allstate were worth $816,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp grew its stake in Allstate by 0.4% in the second quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock worth $623,554,000 after purchasing an additional 24,814 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Allstate by 116.2% in the third quarter. Steward Partners Investment Advisory LLC now owns 17,011 shares of the insurance provider’s stock worth $1,679,000 after purchasing an additional 9,142 shares in the last quarter. Morgan Stanley grew its stake in Allstate by 11.3% in the second quarter. Morgan Stanley now owns 972,750 shares of the insurance provider’s stock worth $88,783,000 after purchasing an additional 99,122 shares in the last quarter. Quantbot Technologies LP grew its stake in Allstate by 598.4% in the third quarter. Quantbot Technologies LP now owns 87,319 shares of the insurance provider’s stock worth $8,618,000 after purchasing an additional 74,816 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Allstate by 101.9% in the second quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock worth $145,082,000 after purchasing an additional 802,167 shares in the last quarter. 77.15% of the stock is currently owned by hedge funds and other institutional investors.
In other Allstate news, EVP Jesse E. Merten sold 696 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $92.12, for a total transaction of $64,115.52. Following the completion of the sale, the executive vice president now owns 2,102 shares in the company, valued at $193,636.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Harriet K. Harty sold 10,515 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total value of $1,039,618.05. Following the sale, the executive vice president now owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.28). The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Allstate had a return on equity of 15.48% and a net margin of 9.38%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Analysts anticipate that Allstate Corp will post 8.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, November 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. Allstate’s dividend payout ratio is currently 27.42%.
Several research analysts recently issued reports on the company. Citigroup dropped their price objective on Allstate from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Credit Suisse Group set a $112.00 price objective on Allstate and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Monday, August 27th. Morgan Stanley dropped their price objective on Allstate from $105.00 to $102.00 and set a “hold” rating on the stock in a research note on Wednesday, November 14th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Allstate in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Allstate currently has a consensus rating of “Hold” and a consensus price target of $102.82.
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The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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