Allstate Corporation (The) (ALL) Stake Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in Allstate Corporation (The) (NYSE:ALL) by 54.2% during the second quarter, Holdings Channel reports. The fund owned 23,600 shares of the insurance provider’s stock after buying an additional 8,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Allstate Corporation (The) were worth $2,087,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in Allstate Corporation (The) by 0.3% in the second quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock worth $273,000 after buying an additional 9 shares during the last quarter. Intrust Bank NA increased its position in Allstate Corporation (The) by 0.3% in the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock worth $615,000 after buying an additional 23 shares in the last quarter. CAPROCK Group Inc. increased its position in Allstate Corporation (The) by 0.6% in the first quarter. CAPROCK Group Inc. now owns 4,567 shares of the insurance provider’s stock worth $372,000 after buying an additional 28 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in Allstate Corporation (The) by 1.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,709 shares of the insurance provider’s stock worth $219,000 after buying an additional 35 shares in the last quarter. Finally, Buckingham Asset Management LLC increased its position in Allstate Corporation (The) by 1.2% in the first quarter. Buckingham Asset Management LLC now owns 3,897 shares of the insurance provider’s stock worth $318,000 after buying an additional 45 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Allstate Corporation (NYSE ALL) opened at 94.16 on Friday. The firm has a market cap of $34.03 billion, a P/E ratio of 13.91 and a beta of 1.10. Allstate Corporation has a one year low of $66.55 and a one year high of $94.70. The stock’s 50 day moving average is $90.07 and its 200 day moving average is $84.22.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm had revenue of $8.02 billion for the quarter, compared to analysts’ expectations of $7.99 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Allstate Corporation will post $6.50 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is presently 21.86%.

Allstate Corporation (The) announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 63% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “Allstate Corporation (The) (ALL) Stake Boosted by Daiwa Securities Group Inc.” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/2801948/allstate-corporation-the-all-stake-boosted-by-daiwa-securities-group-inc.html.

A number of equities analysts have commented on the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a report on Wednesday, May 3rd. Barclays PLC decreased their price objective on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. BidaskClub downgraded shares of Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. UBS Group AG reaffirmed a “neutral” rating and issued a $94.00 price objective (up previously from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Allstate Corporation (The) in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Allstate Corporation (The) has an average rating of “Hold” and an average price target of $89.38.

In other news, President Matthew E. Winter sold 33,957 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $84.38, for a total transaction of $2,865,291.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sanjay Gupta sold 16,798 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $86.00, for a total value of $1,444,628.00. Following the sale, the insider now owns 65,798 shares in the company, valued at approximately $5,658,628. The disclosure for this sale can be found here. Insiders have sold 218,162 shares of company stock worth $19,450,439 in the last 90 days. Company insiders own 1.58% of the company’s stock.

About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corporation (The) (NYSE:ALL).

Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

Receive News & Ratings for Allstate Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.