Huntington National Bank cut its holdings in shares of Allstate Corp (NYSE:ALL) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.
Other large investors have also bought and sold shares of the company. Invesco Ltd. grew its position in Allstate by 1.1% in the 1st quarter. Invesco Ltd. now owns 4,055,327 shares of the insurance provider’s stock worth $371,995,000 after purchasing an additional 44,511 shares in the last quarter. APG Asset Management N.V. grew its position in Allstate by 43.4% in the 1st quarter. APG Asset Management N.V. now owns 3,631,036 shares of the insurance provider’s stock worth $304,556,000 after purchasing an additional 1,098,764 shares in the last quarter. Deutsche Bank AG grew its position in Allstate by 109.5% in the 1st quarter. Deutsche Bank AG now owns 2,987,166 shares of the insurance provider’s stock worth $274,013,000 after purchasing an additional 1,561,512 shares in the last quarter. Victory Capital Management Inc. grew its position in Allstate by 11.2% in the 1st quarter. Victory Capital Management Inc. now owns 2,781,363 shares of the insurance provider’s stock worth $255,135,000 after purchasing an additional 280,537 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Allstate by 3.8% in the 1st quarter. Legal & General Group Plc now owns 2,727,656 shares of the insurance provider’s stock worth $250,450,000 after purchasing an additional 101,018 shares in the last quarter. 76.53% of the stock is owned by institutional investors.
In other Allstate news, Director Judith A. Sprieser sold 1,783 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $99.03, for a total value of $176,570.49. Following the sale, the director now directly owns 1,783 shares in the company, valued at approximately $176,570.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 2,700 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $101.41, for a total transaction of $273,807.00. Following the completion of the sale, the chief executive officer now owns 332,252 shares in the company, valued at $33,693,675.32. The disclosure for this sale can be found here. Insiders have sold a total of 664,021 shares of company stock worth $67,275,235 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $3.54 EPS for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.62. The company had revenue of $9.24 billion for the quarter, compared to analysts’ expectations of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. Allstate’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.30 EPS. On average, equities analysts predict that Allstate Corp will post 10.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 28th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, August 27th. Allstate’s payout ratio is currently 20.71%.
A number of equities research analysts have issued reports on ALL shares. Morgan Stanley reduced their price objective on shares of Allstate from $115.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating and reduced their price objective for the stock from $122.00 to $119.00 in a research report on Monday, April 13th. Credit Suisse Group reiterated a “hold” rating on shares of Allstate in a research note on Thursday, July 9th. Citigroup dropped their target price on shares of Allstate from $135.00 to $119.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, Bank of America started coverage on shares of Allstate in a research note on Monday, June 1st. They issued a “buy” rating on the stock. One research 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $115.47.
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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