First Financial Corp IN cut its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,595 shares of the insurance provider’s stock after selling 382 shares during the period. First Financial Corp IN’s holdings in Allstate were worth $582,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. Private Trust Co. NA raised its position in Allstate by 6.5% during the first quarter. Private Trust Co. NA now owns 4,819 shares of the insurance provider’s stock valued at $667,000 after purchasing an additional 293 shares during the period. Carnegie Capital Asset Management LLC purchased a new stake in Allstate during the first quarter valued at approximately $203,000. Zullo Investment Group Inc. raised its position in Allstate by 13.1% during the first quarter. Zullo Investment Group Inc. now owns 1,725 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 200 shares during the period. Acadian Asset Management LLC raised its position in Allstate by 136.6% during the first quarter. Acadian Asset Management LLC now owns 23,017 shares of the insurance provider’s stock valued at $3,186,000 after purchasing an additional 13,289 shares during the period. Finally, Tobam raised its position in Allstate by 46.5% during the first quarter. Tobam now owns 1,465 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 465 shares during the period. 76.17% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. TheStreet upgraded Allstate from a “c+” rating to a “b-” rating in a research report on Friday, September 16th. Barclays reduced their price target on Allstate from $123.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. Wells Fargo & Company reduced their price target on Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a report on Thursday, July 21st. Evercore ISI increased their price target on Allstate to $126.00 in a report on Tuesday, August 9th. Finally, Raymond James reduced their price target on Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.00.
Allstate Stock Down 0.5 %
Allstate (NYSE:ALL – Get Rating) last announced its earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.50. The business had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $12.16 billion. Allstate had a return on equity of 7.53% and a net margin of 1.99%. During the same quarter last year, the firm earned $3.79 EPS. As a group, equities research analysts forecast that The Allstate Co. will post 5.13 earnings per share for the current year.
Allstate Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. Allstate’s payout ratio is 118.47%.
Insider Transactions at Allstate
In other news, EVP Mark Q. Prindiville sold 5,511 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $125.93, for a total value of $694,000.23. Following the completion of the sale, the executive vice president now owns 15,552 shares of the company’s stock, valued at approximately $1,958,463.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.77% of the company’s stock.
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability 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 and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.
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