FTB Advisors Inc. decreased its stake in Allstate Corp. (NYSE:ALL) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,336 shares of the company’s stock after selling 8,120 shares during the period. FTB Advisors Inc.’s holdings in Allstate Corp. were worth $5,339,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ALL. Integrated Investment Consultants LLC raised its stake in shares of Allstate Corp. by 9.2% in the second quarter. Integrated Investment Consultants LLC now owns 2,483 shares of the company’s stock valued at $174,000 after buying an additional 209 shares in the last quarter. BKD Wealth Advisors LLC bought a new stake in shares of Allstate Corp. during the second quarter valued at approximately $204,000. Kassirer Asset Management Corp bought a new stake in shares of Allstate Corp. during the second quarter valued at approximately $206,000. Arbor Investment Advisors LLC bought a new stake in shares of Allstate Corp. during the second quarter valued at approximately $207,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Allstate Corp. during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 76.38% of the company’s stock.
Allstate Corp. (NYSE:ALL) traded up 0.58% during mid-day trading on Friday, reaching $69.49. 1,381,626 shares of the company were exchanged. Allstate Corp. has a 12 month low of $56.03 and a 12 month high of $70.38. The company’s 50 day moving average price is $68.49 and its 200-day moving average price is $67.92. The stock has a market capitalization of $25.81 billion, a P/E ratio of 17.50 and a beta of 0.95.
Allstate Corp. (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $8.14 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts expect that Allstate Corp. will post $4.41 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Deutsche Bank AG lifted their price target on shares of Allstate Corp. from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. MKM Partners reiterated a “buy” rating on shares of Allstate Corp. in a research note on Thursday, June 16th. Credit Suisse Group AG set a $73.00 price target on shares of Allstate Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. Finally, Barclays PLC restated an “overweight” rating and issued a $79.00 price objective (up from $74.00) on shares of Allstate Corp. in a research note on Friday, September 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of GBX 72 ($0.89).
In other news, insider Harriet K. Harty sold 6,779 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of GBX 68.64 ($0.85), for a total value of £4,653.11 ($5,758.79). Following the transaction, the insider now directly owns 12,316 shares in the company, valued at approximately £8,453.70 ($10,462.50). The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven E. Shebik sold 41,334 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of GBX 68.86 ($0.85), for a total transaction of £28,462.59 ($35,225.98). Following the completion of the transaction, the chief financial officer now owns 102,959 shares in the company, valued at £70,897.57 ($87,744.51). The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.
Allstate Corp. Company Profile
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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