Essex Financial Services Inc. held its stake in Allstate Corp. (NYSE:ALL) during the second quarter, Holdings Channel reports. The firm owned 5,523 shares of the company’s stock at the end of the second quarter. Essex Financial Services Inc.’s holdings in Allstate Corp. were worth $386,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of ALL. American Century Companies Inc. increased its stake in Allstate Corp. by 204.5% in the second quarter. American Century Companies Inc. now owns 3,874,045 shares of the company’s stock worth $270,989,000 after buying an additional 2,601,606 shares during the period. Standard Life Investments LTD increased its stake in Allstate Corp. by 556.2% in the second quarter. Standard Life Investments LTD now owns 3,243,360 shares of the company’s stock worth $226,857,000 after buying an additional 2,749,105 shares during the period. Bank of Montreal Can acquired a new stake in Allstate Corp. during the second quarter worth $130,921,000. Legal & General Group Plc increased its stake in Allstate Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 1,845,543 shares of the company’s stock worth $124,342,000 after buying an additional 8,135 shares during the period. Finally, Edgar Lomax Co. VA increased its stake in Allstate Corp. by 2.2% in the first quarter. Edgar Lomax Co. VA now owns 953,873 shares of the company’s stock worth $64,262,000 after buying an additional 20,250 shares during the period. 76.36% of the stock is owned by institutional investors and hedge funds.
Allstate Corp. (NYSE:ALL) traded down 0.07% during mid-day trading on Tuesday, reaching $69.29. 1,301,182 shares of the company’s stock traded hands. The company has a 50 day moving average price of $68.56 and a 200-day moving average price of $67.97. The stock has a market cap of $25.74 billion, a P/E ratio of 17.45 and a beta of 0.95. Allstate Corp. has a 12 month low of $56.03 and a 12 month high of $70.38.
Allstate Corp. (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the 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 earned $9.16 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter last year, the business earned $0.63 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, analysts anticipate that Allstate Corp. will post $4.41 EPS for the current year.
A number of research analysts recently issued reports on ALL shares. Barclays PLC restated an “overweight” rating and set a $79.00 price objective (up previously from $74.00) on shares of Allstate Corp. in a report on Friday, September 30th. Credit Suisse Group AG set a $73.00 price objective on shares of Allstate Corp. and gave the company a “buy” rating in a report on Tuesday, August 23rd. Argus restated a “buy” rating and set a $76.00 price objective on shares of Allstate Corp. in a report on Friday, September 2nd. Zacks Investment Research cut shares of Allstate Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, William Blair restated an “underperform” rating on shares of Allstate Corp. in a report on Saturday, September 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of GBX 72.08 ($0.88).
In other Allstate Corp. news, CFO Steven E. Shebik sold 41,334 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of GBX 68.86 ($0.84), for a total transaction of £28,462.59 ($34,689.33). Following the completion of the transaction, the chief financial officer now owns 102,959 shares in the company, valued at approximately £70,897.57 ($86,407.76). The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Harriet K. Harty sold 6,779 shares of Allstate Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of GBX 68.64 ($0.84), for a total transaction of £4,653.11 ($5,671.06). Following the completion of the sale, the insider now owns 12,316 shares of the company’s stock, valued at approximately £8,453.70 ($10,303.11). The disclosure for this sale can be found here. Company insiders own 1.58% of the company’s stock.
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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