BlackRock Inc. Buys 389,249 Shares of Allstate Corporation (The) (ALL)

BlackRock Inc. grew its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,847,576 shares of the insurance provider’s stock after buying an additional 389,249 shares during the quarter. BlackRock Inc. owned 7.43% of Allstate Corporation (The) worth $2,374,397,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. grew its stake in shares of Allstate Corporation (The) by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after buying an additional 5 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Allstate Corporation (The) by 0.3% in the second quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 9 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Allstate Corporation (The) by 0.3% in the second quarter. Brighton Jones LLC now owns 3,313 shares of the insurance provider’s stock worth $293,000 after purchasing an additional 10 shares during the last quarter. Intrust Bank NA grew its stake in shares of Allstate Corporation (The) by 0.3% in the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 23 shares during the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in shares of Allstate Corporation (The) by 1.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,709 shares of the insurance provider’s stock worth $219,000 after purchasing an additional 35 shares during the last quarter. 76.51% of the stock is currently owned by hedge funds and other institutional investors.

In other Allstate Corporation (The) news, insider Harriet K. Harty sold 7,228 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $88.35, for a total value of $638,593.80. Following the transaction, the insider now directly owns 18,260 shares in the company, valued at approximately $1,613,271. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Matthew E. Winter sold 48,059 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 150,830 shares of company stock worth $13,911,217 over the last 90 days. Insiders own 1.58% of the company’s stock.

Shares of Allstate Corporation (NYSE ALL) traded up 0.09% during mid-day trading on Friday, reaching $90.58. 577,218 shares of the company’s stock traded hands. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $95.25. The stock has a 50-day moving average price of $91.85 and a 200 day moving average price of $86.51. The firm has a market capitalization of $32.73 billion, a price-to-earnings ratio of 13.38 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Analysts anticipate that Allstate Corporation will post $6.33 EPS for the current fiscal year.

Allstate Corporation (The) declared that its board has initiated a share buyback plan on Tuesday, August 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 63% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a yield of 1.64%. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.

Several analysts recently issued reports on the company. Buckingham Research assumed coverage on Allstate Corporation (The) in a research note on Monday. They issued an “underperform” rating and a $74.00 target price on the stock. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, August 17th. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Barclays PLC raised their target price on Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Finally, Deutsche Bank AG cut Allstate Corporation (The) from a “buy” rating to a “hold” rating and raised their target price for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $90.38.

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About Allstate Corporation (The)

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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Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

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