Huntington National Bank cut its stake in Allstate Corp. (NYSE:ALL) by 12.6% during the second quarter, Holdings Channel reports. The fund owned 36,106 shares of the company’s stock after selling 5,190 shares during the period. Huntington National Bank’s holdings in Allstate Corp. were worth $2,526,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Standard Life Investments LTD boosted its position in shares of Allstate Corp. by 556.2% in the second quarter. Standard Life Investments LTD now owns 3,243,360 shares of the company’s stock valued at $226,857,000 after buying an additional 2,749,105 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Allstate Corp. by 204.5% in the second quarter. American Century Companies Inc. now owns 3,874,045 shares of the company’s stock valued at $270,989,000 after buying an additional 2,601,606 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Allstate Corp. during the second quarter valued at $130,921,000. Credit Agricole S A boosted its position in shares of Allstate Corp. by 296.1% in the first quarter. Credit Agricole S A now owns 943,038 shares of the company’s stock valued at $63,532,000 after buying an additional 704,940 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Allstate Corp. by 4,833.1% in the first quarter. Renaissance Technologies LLC now owns 607,900 shares of the company’s stock valued at $40,954,000 after buying an additional 595,577 shares in the last quarter. 76.38% of the stock is owned by institutional investors and hedge funds.
Allstate Corp. (NYSE:ALL) traded up 0.35% during midday trading on Friday, hitting $69.33. The stock had a trading volume of 2,324,272 shares. The firm has a market cap of $25.75 billion, a P/E ratio of 17.46 and a beta of 0.95. Allstate Corp. has a 52 week low of $56.03 and a 52 week high of $70.38. The stock has a 50-day moving average of $68.51 and a 200-day moving average of $67.94.
Allstate Corp. (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business earned $9.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Allstate Corp. had a return on equity of 9.94% and a net margin of 4.63%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. Analysts forecast that Allstate Corp. will post $4.41 EPS for the current fiscal year.
Several research analysts recently weighed in on ALL shares. William Blair reaffirmed an “underperform” rating on shares of Allstate Corp. in a research note on Saturday, September 10th. Credit Suisse Group AG set a $73.00 target price on Allstate Corp. and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Argus reaffirmed a “buy” rating and set a $76.00 target price on shares of Allstate Corp. in a research note on Friday, September 2nd. Zacks Investment Research cut Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $79.00 target price (up previously from $74.00) on shares of Allstate Corp. in a research note on Friday, September 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Allstate Corp. presently has a consensus rating of “Buy” and an average price target of GBX 72 ($0.89).
In related news, CFO Steven E. Shebik sold 41,334 shares of the company’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 value of £28,462.59 ($35,225.98). Following the completion of the sale, the chief financial officer now owns 102,959 shares in the company, valued at £70,897.57 ($87,744.51). The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harriet K. Harty sold 6,779 shares of the company’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 completion of the sale, the insider now owns 12,316 shares of the company’s stock, valued at approximately £8,453.70 ($10,462.50). The disclosure for this sale can be found here. 1.58% of the stock is owned by corporate insiders.
About Allstate Corp.
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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