Carret Asset Management LLC lessened its position in The Allstate Co. (NYSE:ALL – Free Report) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,763 shares of the insurance provider’s stock after selling 529 shares during the period. Allstate accounts for 0.8% of Carret Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Carret Asset Management LLC’s holdings in Allstate were worth $6,987,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ALL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Allstate in the first quarter worth about $25,000. Private Wealth Management Group LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $25,000. Rise Advisors LLC purchased a new position in shares of Allstate during the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate during the first quarter valued at approximately $26,000. Finally, Versant Capital Management Inc raised its holdings in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Insider Buying and Selling at Allstate
In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,938 shares of company stock worth $36,122,740. Insiders own 1.80% of the company’s stock.
Allstate Stock Up 0.8 %
Allstate (NYSE:ALL – Get Free Report) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.42) earnings per share. As a group, research analysts expect that The Allstate Co. will post 15.14 earnings per share for the current year.
Allstate Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.95%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.
Analyst Ratings Changes
A number of research analysts have issued reports on ALL shares. Bank of America boosted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Roth Mkm reaffirmed a “buy” rating and set a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their price objective on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company decreased their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.94.
Check Out Our Latest Report on ALL
About Allstate
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.
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