The Allstate Corporation $ALL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of The Allstate Corporation (NYSE:ALL) by 0.6% in the first quarter, HoldingsChannel reports. The firm owned 1,847,128 shares of the insurance provider’s stock after selling 11,147 shares during the quarter. Bank of New York Mellon Corp’s holdings in Allstate were worth $382,983,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in Allstate in the 3rd quarter worth about $7,814,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after acquiring an additional 26,586 shares during the last quarter. Mezzasalma Advisors LLC lifted its holdings in shares of Allstate by 58.6% during the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock worth $4,875,000 after acquiring an additional 8,837 shares during the period. Meyer Handelman Co. boosted its position in shares of Allstate by 4.8% in the fourth quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider’s stock worth $43,043,000 after acquiring an additional 9,438 shares during the last quarter. Finally, AIA Group Ltd boosted its position in shares of Allstate by 479.8% in the third quarter. AIA Group Ltd now owns 13,190 shares of the insurance provider’s stock worth $2,831,000 after acquiring an additional 10,915 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 3.3%

Shares of Allstate stock opened at $249.84 on Friday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67. The stock has a market cap of $64.31 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.42 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $227.29 and a 200 day moving average price of $214.36.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that The Allstate Corporation will post 30.26 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s payout ratio is 9.53%.

Analyst Ratings Changes

A number of research firms have recently commented on ALL. Mizuho upped their price objective on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Barclays boosted their price target on Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research report on Tuesday, July 7th. Raymond James Financial upped their price target on Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 6th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, HSBC lowered Allstate from a “buy” rating to a “hold” rating and lifted their price objective for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Insider Buying and Selling

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Allstate Company Profile

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.