Pittenger & Anderson Inc. Has $2,653,000 Position in Allstate Corporation (The) (NYSE:ALL)

Pittenger & Anderson Inc. held its stake in shares of Allstate Corporation (The) (NYSE:ALL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,000 shares of the insurance provider’s stock at the close of the 2nd quarter. Pittenger & Anderson Inc.’s holdings in Allstate Corporation (The) were worth $2,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Henderson Group PLC boosted its stake in Allstate Corporation (The) by 1.1% during the 1st quarter. Henderson Group PLC now owns 47,317 shares of the insurance provider’s stock valued at $3,855,000 after purchasing an additional 500 shares during the last quarter. FCA Corp TX boosted its stake in shares of Allstate Corporation (The) by 0.7% in the 1st quarter. FCA Corp TX now owns 25,241 shares of the insurance provider’s stock worth $2,057,000 after buying an additional 180 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Allstate Corporation (The) in the 2nd quarter worth $1,671,000. State Street Corp boosted its stake in shares of Allstate Corporation (The) by 3.0% in the 1st quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock worth $1,472,962,000 after buying an additional 530,591 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in shares of Allstate Corporation (The) by 16.7% in the 2nd quarter. State of Tennessee Treasury Department now owns 593,694 shares of the insurance provider’s stock worth $52,506,000 after buying an additional 85,026 shares during the last quarter. Institutional investors and hedge funds own 76.13% of the company’s stock.

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Allstate Corporation (NYSE:ALL) opened at 90.53 on Friday. Allstate Corporation has a 12 month low of $66.55 and a 12 month high of $95.25. The stock has a market cap of $32.71 billion, a price-to-earnings ratio of 13.37 and a beta of 1.09. The firm’s 50 day moving average price is $91.89 and its 200 day moving average price is $86.77.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping the consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The firm had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.99 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. Allstate Corporation (The)’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Allstate Corporation will post $6.10 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is currently 21.86%.

Allstate Corporation (The) declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 63% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, insider Harriet K. Harty sold 7,228 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $88.35, for a total value of $638,593.80. Following the completion of the sale, the insider now owns 18,260 shares of the company’s stock, valued at $1,613,271. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Matthew E. Winter sold 48,059 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total transaction of $4,543,017.27. The disclosure for this sale can be found here. Insiders sold 150,830 shares of company stock valued at $13,911,217 in the last three months. Company insiders own 1.58% of the company’s stock.

Several equities analysts recently weighed in on the company. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research report on Tuesday, August 1st. BidaskClub downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Morgan Stanley reiterated an “equal weight” rating and set a $91.00 target price (up from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $88.00 price target on shares of Allstate Corporation (The) in a report on Friday, June 16th. Finally, UBS AG reissued a “neutral” rating and set a $94.00 price target (up from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $90.31.

About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

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