Fulton Bank N.A. cut its position in Allstate Corp (NYSE:ALL) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,708 shares of the insurance provider’s stock after selling 102 shares during the period. Fulton Bank N.A.’s holdings in Allstate Corp were worth $872,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Becker Capital Management Inc. increased its position in shares of Allstate Corp by 0.5% in the third quarter. Becker Capital Management Inc. now owns 704,218 shares of the insurance provider’s stock worth $48,718,000 after buying an additional 3,542 shares during the period. Bessemer Group Inc. increased its position in shares of Allstate Corp by 450.6% in the fourth quarter. Bessemer Group Inc. now owns 19,228 shares of the insurance provider’s stock worth $1,425,000 after buying an additional 15,736 shares during the period. ETRADE Capital Management LLC increased its position in shares of Allstate Corp by 5.0% in the third quarter. ETRADE Capital Management LLC now owns 33,538 shares of the insurance provider’s stock worth $2,320,000 after buying an additional 1,582 shares during the period. United Services Automobile Association increased its position in shares of Allstate Corp by 16.8% in the third quarter. United Services Automobile Association now owns 646,335 shares of the insurance provider’s stock worth $44,713,000 after buying an additional 92,762 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Allstate Corp by 6.1% in the third quarter. State of Alaska Department of Revenue now owns 61,806 shares of the insurance provider’s stock worth $4,275,000 after buying an additional 3,563 shares during the period. 76.44% of the stock is currently owned by institutional investors.
Allstate Corp (NYSE:ALL) traded down 0.50% on Friday, hitting $79.75. 820,146 shares of the company traded hands. The firm has a market capitalization of $29.12 billion, a PE ratio of 17.08 and a beta of 0.96. Allstate Corp has a 1-year low of $64.36 and a 1-year high of $83.09. The firm’s 50 day moving average price is $81.48 and its 200 day moving average price is $75.13.
Allstate Corp (NYSE:ALL) last posted its earnings results on Wednesday, February 1st. The insurance provider reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.54. The company earned $9.30 billion during the quarter, compared to analysts’ expectations of $7.74 billion. Allstate Corp had a return on equity of 10.21% and a net margin of 5.14%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 earnings per share. Equities research analysts predict that Allstate Corp will post $6.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Tuesday, February 28th were paid a dividend of $0.37 per share. This is a boost from Allstate Corp’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 24th. This represents a $1.48 annualized dividend and a yield of 1.85%. Allstate Corp’s dividend payout ratio (DPR) is 28.09%.
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Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Allstate Corp from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, March 14th. Barclays PLC reaffirmed a “buy” rating and set a $83.00 price objective on shares of Allstate Corp in a report on Monday, January 9th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $80.00 price objective on shares of Allstate Corp in a report on Sunday, February 5th. FBR & Co reaffirmed a “hold” rating on shares of Allstate Corp in a report on Thursday, February 2nd. Finally, Keefe, Bruyette & Woods downgraded shares of Allstate Corp from an “outperform” rating to a “market perform” rating and set a $81.00 price objective on the stock. in a report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Allstate Corp presently has a consensus rating of “Buy” and a consensus target price of $83.70.
In other Allstate Corp news, Director Mary Alice Taylor sold 10,000 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $77.72, for a total transaction of $777,200.00. Following the completion of the sale, the director now owns 13,048 shares of the company’s stock, valued at $1,014,090.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Matthew E. Winter sold 33,956 shares of the firm’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $81.01, for a total value of $2,750,775.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,307 shares of company stock valued at $9,823,175. 1.58% of the stock is owned by insiders.
Allstate Corp 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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