UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Holdings in The Allstate Corporation $ALL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of The Allstate Corporation (NYSE:ALL) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,167,998 shares of the insurance provider’s stock after selling 78,458 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Allstate were worth $515,853,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board lifted its position in Allstate by 7.5% in the 2nd quarter. New Mexico Educational Retirement Board now owns 12,934 shares of the insurance provider’s stock valued at $3,078,000 after acquiring an additional 900 shares in the last quarter. Mufg Securities Americas Inc. increased its holdings in shares of Allstate by 7.8% in the 2nd quarter. Mufg Securities Americas Inc. now owns 7,754 shares of the insurance provider’s stock worth $1,845,000 after purchasing an additional 560 shares in the last quarter. Nissay Asset Management Corp Japan increased its holdings in shares of Allstate by 3.0% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 34,584 shares of the insurance provider’s stock worth $8,229,000 after purchasing an additional 1,004 shares in the last quarter. Field & Main Bank purchased a new position in shares of Allstate in the second quarter worth $77,000. Finally, Archer Investment Corp bought a new position in shares of Allstate during the second quarter valued at $94,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALL has been the topic of several recent analyst reports. Morgan Stanley set a $265.00 price objective on Allstate in a research report on Tuesday, August 11th. Roth Capital set a $300.00 target price on Allstate in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and raised their price target for the company from $244.00 to $264.00 in a report on Monday, July 6th. Finally, Atlantic Securities set a $319.00 price target on shares of Allstate in a research note on Wednesday, July 15th. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $263.90.

Allstate Stock Up 0.2%

Allstate stock opened at $261.17 on Monday. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The stock has a fifty day moving average of $254.14 and a 200 day moving average of $227.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $66.04 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period last year, the firm posted $5.94 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.