Meeder Asset Management Inc. grew its stake in Allstate Corp (NYSE:ALL) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,482 shares of the insurance provider’s stock after acquiring an additional 435 shares during the period. Meeder Asset Management Inc.’s holdings in Allstate were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Allstate by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,227 shares of the insurance provider’s stock valued at $218,651,000 after acquiring an additional 50,073 shares during the period. Geode Capital Management LLC increased its position in Allstate by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock valued at $390,468,000 after acquiring an additional 391,869 shares during the period. Strategic Financial Services Inc acquired a new position in Allstate during the 1st quarter worth approximately $217,000. Mercer Global Advisors Inc. ADV acquired a new position in Allstate during the 1st quarter worth approximately $2,007,000. Finally, Oppenheimer Asset Management Inc. increased its position in Allstate by 25.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,451 shares of the insurance provider’s stock worth $324,000 after purchasing an additional 693 shares during the period. 76.81% of the stock is owned by institutional investors.
Several equities analysts have issued reports on ALL shares. Barclays set a $125.00 target price on Allstate and gave the stock a “buy” rating in a research report on Monday, August 12th. Credit Suisse Group cut Allstate from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $100.00 to $94.00 in a research report on Thursday, July 11th. Raymond James boosted their target price on Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. Goldman Sachs Group upgraded Allstate from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $106.00 to $110.00 in a research report on Wednesday, May 29th. Finally, Morgan Stanley boosted their target price on Allstate from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Allstate has an average rating of “Hold” and an average target price of $108.25.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.70. The business had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 EPS. On average, equities analysts anticipate that Allstate Corp will post 9.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, August 29th. Allstate’s dividend payout ratio (DPR) is 24.78%.
In other news, insider Glenn T. Shapiro sold 22,289 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the sale, the insider now owns 25,584 shares of the company’s stock, valued at approximately $2,615,196.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,225 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $102.63, for a total value of $228,351.75. The disclosure for this sale can be found here. Insiders have sold a total of 126,836 shares of company stock worth $13,071,947 in the last three months. Corporate insiders own 1.60% of the company’s stock.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
Featured Article: Understanding Options Trading
Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corp (NYSE:ALL).
Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.