Huntington National Bank reduced its holdings in shares of Allstate Corp (NYSE:ALL) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,523 shares of the insurance provider’s stock after selling 1,322 shares during the period. Huntington National Bank’s holdings in Allstate were worth $2,088,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ALL. Deutsche Bank AG increased its stake in Allstate by 109.5% during the 1st quarter. Deutsche Bank AG now owns 2,987,166 shares of the insurance provider’s stock valued at $274,013,000 after purchasing an additional 1,561,512 shares in the last quarter. First Trust Advisors LP increased its stake in Allstate by 196.0% during the 2nd quarter. First Trust Advisors LP now owns 1,881,129 shares of the insurance provider’s stock valued at $182,451,000 after purchasing an additional 1,245,647 shares in the last quarter. APG Asset Management N.V. increased its stake in Allstate by 43.4% during the 1st quarter. APG Asset Management N.V. now owns 3,631,036 shares of the insurance provider’s stock valued at $304,556,000 after purchasing an additional 1,098,764 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Allstate by 23.7% during the 1st quarter. Nuveen Asset Management LLC now owns 1,879,011 shares of the insurance provider’s stock valued at $172,362,000 after purchasing an additional 360,615 shares in the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in Allstate during the 1st quarter valued at about $28,720,000. 76.53% of the stock is owned by institutional investors.
Shares of NYSE ALL opened at $94.39 on Friday. The firm has a 50 day moving average of $93.76 and a 200 day moving average of $101.57. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $29.65 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 1.15 and a beta of 0.88. Allstate Corp has a 12-month low of $64.13 and a 12-month high of $125.92.
Allstate (NYSE:ALL) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.62. The company had revenue of $9.24 billion during the quarter, compared to analyst estimates of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.30 earnings per share. Sell-side analysts predict that Allstate Corp will post 10.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $2.16 annualized dividend and a yield of 2.29%. Allstate’s dividend payout ratio (DPR) is 20.71%.
In other Allstate news, CEO Thomas J. Wilson sold 2,700 shares of Allstate stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $101.41, for a total transaction of $273,807.00. Following the transaction, the chief executive officer now owns 332,252 shares of the company’s stock, valued at $33,693,675.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mario Rizzo sold 6,670 shares of Allstate stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $101.39, for a total transaction of $676,271.30. Following the transaction, the chief financial officer now directly owns 28,235 shares in the company, valued at approximately $2,862,746.65. The disclosure for this sale can be found here. Insiders have sold 664,021 shares of company stock worth $67,275,235 in the last ninety days. Insiders own 1.80% of the company’s stock.
ALL has been the subject of a number of analyst reports. ValuEngine upgraded shares of Allstate from a “strong sell” rating to a “sell” rating in a research note on Saturday. Credit Suisse Group restated a “hold” rating on shares of Allstate in a research note on Thursday, July 9th. Citigroup reduced their price target on shares of Allstate from $135.00 to $119.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Deutsche Bank lifted their price target on shares of Allstate from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Finally, Raymond James lifted their price target on shares of Allstate from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Allstate presently has a consensus rating of “Buy” and an average target price of $115.47.
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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