The Allstate Corporation (The) (ALL) Position Lowered by Denali Advisors LLC

The Allstate Corporation (The) (ALL) Position Lowered by Denali Advisors LLC

Other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of 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 worth $2,156,089,000 after buying an additional 25,527,763 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 worth $1,926,258,000 after buying an additional 733,684 shares in the last quarter. State Street Corp boosted its stake in shares of 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 worth $1,472,962,000 after buying an additional 530,591 shares in the last quarter. Boston Partners boosted its stake in shares of Allstate Corporation (The) by 3.8% in the first quarter. Boston Partners now owns 9,278,481 shares of the insurance provider’s stock worth $756,103,000 after buying an additional 341,615 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of 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 worth $510,828,000 after buying an additional 363,084 shares in the last quarter. Institutional investors and hedge funds own 76.36% of the company’s stock.

Denali Advisors LLC decreased its position in shares of Allstate Corporation (The) (NYSE:ALL) by 92.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,900 shares of the insurance provider’s stock after selling 92,300 shares during the period. Denali Advisors LLC’s holdings in Allstate Corporation (The) were worth $699,000 as of its most recent SEC filing.

Shares of Allstate Corporation (NYSE ALL) traded up 2.86% on Wednesday, reaching $93.60. 1,190,841 shares of the company were exchanged. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $93.98. The stock has a market capitalization of $34.12 billion, a PE ratio of 15.87 and a beta of 1.10. The company has a 50-day moving average price of $89.06 and a 200 day moving average price of $83.42.

Allstate Corporation (The) (NYSE:ALL) last posted its 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. The firm had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a net margin of 6.27% and a return on equity of 11.45%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. On average, analysts forecast that Allstate Corporation will post $5.95 EPS for the current fiscal year.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio (DPR) is presently 25.00%.

ALL has been the subject of a number of recent analyst reports. Barclays PLC dropped their price target on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. BidaskClub cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research report on Saturday, June 24th. Citigroup Inc. lifted their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Finally, Zacks Investment Research cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Allstate Corporation (The) currently has a consensus rating of “Hold” and a consensus target price of $87.67.

In other Allstate Corporation (The) news, insider Harriet K. Harty sold 7,228 shares of the stock in a transaction that occurred on 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 owns 18,260 shares of the company’s stock, valued at $1,613,271. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew E. Winter sold 48,058 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.54, for a total transaction of $4,255,055.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 170,677 shares of company stock valued at $14,975,887. Corporate insiders own 1.58% of the company’s stock.

Allstate Corporation (The) Company 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.

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