Amundi Has $247.78 Million Stock Holdings in The Allstate Corporation $ALL

Key Points

• Amundi reduced its Allstate stake by 1.4% in the second quarter, selling 15,115 shares and retaining 1.04 million shares worth approximately $247.8 million. Institutional investors own 76.47% of Allstate.
• Allstate reported strong quarterly results, with earnings of $8.99 per share versus the $6.06 analyst consensus and revenue of $18.6 billion, up 11.8% year over year.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and average price target of $263.90. Meanwhile, two insiders sold a combined 89,221 shares, and Allstate declared a quarterly dividend of $1.08 per share.

Amundi decreased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,041,343 shares of the insurance provider's stock after selling 15,115 shares during the quarter. Amundi owned 0.41% of Allstate worth $247,777,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK grew its stake in shares of Allstate by 2.6% in the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider's stock worth $435,000 after acquiring an additional 46 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock worth $1,625,000 after purchasing an additional 50 shares during the last quarter. Compound Planning Inc. increased its holdings in shares of Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock worth $669,000 after purchasing an additional 50 shares during the period. Natural Investments LLC increased its holdings in shares of Allstate by 1.5% during the 2nd quarter. Natural Investments LLC now owns 3,327 shares of the insurance provider's stock worth $791,000 after purchasing an additional 50 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in shares of Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock valued at $1,210,000 after buying an additional 52 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 56,225 shares of Allstate 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 approximately $21,747,396.96. The trade was a 40.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Dugenske sold 32,996 shares of Allstate stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value 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. This trade represents a 71.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $315.00 price objective on shares of Allstate in a research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price objective on Allstate from $282.00 to $292.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. HSBC cut Allstate from a "buy" rating to a "hold" rating and raised their target price for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Citigroup lowered Allstate from a "neutral" rating to a "sell" rating and upped their price objective for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Finally, Weiss Ratings cut Allstate from a "buy (a)" rating to a "buy (a-)" rating in a report on Tuesday, August 25th. Four analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $263.90.

Allstate Price Performance

Shares of ALL stock opened at $259.43 on Tuesday. The firm's 50 day moving average is $257.28 and its 200-day moving average is $229.24. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $65.60 billion, a price-to-earnings ratio of 5.18, a PEG ratio of 0.58 and a beta of 0.15.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts' consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the company earned $5.94 EPS. The business's quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Corporation will post 35.5 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate's dividend payout ratio is currently 8.63%.

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.

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