The Allstate Corporation $ALL Stock Holdings Increased by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its Allstate stake by 35.3% in the second quarter, bringing its holdings to 64,331 shares valued at approximately $15.3 million. Institutional investors collectively own 76.47% of Allstate.
• Allstate reported quarterly EPS of $8.99, well above the $6.06 analyst estimate, while revenue rose 11.8% year over year to $18.6 billion. The company also declared a quarterly dividend of $1.08 per share, representing a 1.7% yield.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $263.90. Meanwhile, insiders sold 91,446 shares worth about $24.2 million over the past 90 days.

Benjamin Edwards Inc. raised its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 35.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,331 shares of the insurance provider's stock after buying an additional 16,767 shares during the quarter. Benjamin Edwards Inc.'s holdings in Allstate were worth $15,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. BlackRock Inc. purchased a new position in shares of Allstate during the 2nd quarter valued at $5,439,448,000. State Street Corp raised its holdings in shares of Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider's stock worth $2,571,600,000 after acquiring an additional 438,034 shares in the last quarter. Bank of America Corp DE boosted its position in Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC boosted its position in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider's stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider's stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insider Activity

In related news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was 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 in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 91,446 shares of company stock valued at $24,208,675. 1.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALL. Mizuho raised their price target on Allstate from $255.00 to $272.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Raymond James Financial restated a "strong-buy" rating and issued a $315.00 price objective on shares of Allstate in a report on Tuesday, August 11th. Argus set a $238.00 target price on shares of Allstate in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $282.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods restated an "underperform" rating and set a $250.00 price target (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Allstate has an average rating of "Hold" and an average price target of $263.90.

Allstate Stock Up 1.4%

Shares of Allstate stock opened at $261.17 on Friday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $254.14 and a two-hundred day moving average price of $226.81. The stock has a market capitalization of $66.04 billion, a P/E ratio of 5.22, a PEG ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts' consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $5.94 earnings per share. Equities analysts expect that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate's dividend payout ratio is 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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