US Bancorp DE cut its stake in Allstate Corp (NYSE:ALL) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,903 shares of the insurance provider’s stock after selling 4,592 shares during the period. US Bancorp DE’s holdings in Allstate were worth $20,123,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Enlightenment Research LLC bought a new stake in Allstate in the 2nd quarter valued at $213,000. Clearstead Advisors LLC raised its stake in shares of Allstate by 34.3% in the 2nd quarter. Clearstead Advisors LLC now owns 6,970 shares of the insurance provider’s stock valued at $709,000 after buying an additional 1,782 shares in the last quarter. Orrstown Financial Services Inc. raised its stake in shares of Allstate by 1.1% in the 2nd quarter. Orrstown Financial Services Inc. now owns 10,417 shares of the insurance provider’s stock valued at $1,059,000 after buying an additional 116 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Allstate by 10.0% in the 1st quarter. Federated Investors Inc. PA now owns 1,143,114 shares of the insurance provider’s stock valued at $107,659,000 after buying an additional 103,920 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in shares of Allstate by 3.8% in the 1st quarter. Wetherby Asset Management Inc. now owns 12,330 shares of the insurance provider’s stock valued at $1,162,000 after buying an additional 446 shares in the last quarter. 76.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Allstate stock traded down $0.77 during mid-day trading on Friday, reaching $105.81. 1,625,445 shares of the stock were exchanged, compared to its average volume of 1,290,047. The company has a market cap of $35.09 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.34 and a beta of 0.82. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $103.60 and a 200 day simple moving average of $99.26. Allstate Corp has a fifty-two week low of $77.00 and a fifty-two week high of $109.13.
Allstate (NYSE:ALL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.70. The business had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $2.00 EPS. On average, research analysts predict that Allstate Corp will post 9.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, August 29th. Allstate’s dividend payout ratio (DPR) is currently 24.78%.
A number of equities analysts have recently issued reports on ALL shares. Goldman Sachs Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and increased their price objective for the company from $106.00 to $110.00 in a research note on Wednesday, May 29th. Raymond James increased their price objective on shares of Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Barclays set a $125.00 price objective on shares of Allstate and gave the company a “buy” rating in a research note on Monday, August 12th. Buckingham Research increased their price objective on shares of Allstate from $100.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley increased their target price on shares of Allstate from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $107.92.
In other Allstate news, Director Judith A. Sprieser sold 2,225 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $102.63, for a total value of $228,351.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan L. Lees sold 30,189 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $102.26, for a total transaction of $3,087,127.14. Following the completion of the sale, the executive vice president now owns 62,854 shares of the company’s stock, valued at approximately $6,427,450.04. The disclosure for this sale can be found here. Insiders have sold a total of 126,836 shares of company stock valued at $13,071,947 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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