Axa Increases Stock Position in Allstate Corp (NYSE:ALL)

AXA boosted its holdings in shares of Allstate Corp (NYSE:ALL) by 11.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,597 shares of the insurance provider’s stock after purchasing an additional 4,097 shares during the period. AXA’s holdings in Allstate were worth $3,925,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ALL. Renaissance Technologies LLC increased its stake in shares of Allstate by 141.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,246,700 shares of the insurance provider’s stock valued at $126,777,000 after buying an additional 729,400 shares during the period. MUFG Securities EMEA plc grew its stake in shares of Allstate by 297.7% during the second quarter. MUFG Securities EMEA plc now owns 783,100 shares of the insurance provider’s stock worth $79,633,000 after purchasing an additional 586,200 shares during the period. Atalanta Sosnoff Capital LLC acquired a new stake in shares of Allstate during the second quarter worth $39,602,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Allstate by 219.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 409,850 shares of the insurance provider’s stock worth $38,600,000 after purchasing an additional 281,725 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Allstate by 47.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 875,840 shares of the insurance provider’s stock worth $82,487,000 after purchasing an additional 279,889 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Jesse E. Merten sold 900 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $102.27, for a total value of $92,043.00. Following the completion of the sale, the executive vice president now directly owns 4,869 shares in the company, valued at approximately $497,952.63. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Steven E. Shebik sold 26,446 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $103.56, for a total transaction of $2,738,747.76. Following the completion of the transaction, the insider now directly owns 153,154 shares in the company, valued at approximately $15,860,628.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,783 shares of company stock valued at $10,472,581. Company insiders own 1.60% of the company’s stock.

Several research analysts have weighed in on ALL shares. Credit Suisse Group lowered Allstate from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $100.00 to $94.00 in a report on Thursday, July 11th. Raymond James lifted their target price on Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. Morgan Stanley boosted their price target on Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. UBS Group upped their target price on Allstate from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Buckingham Research upped their target price on Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $108.38.

NYSE ALL traded up $0.79 on Friday, hitting $107.93. 1,276,738 shares of the company’s stock were exchanged, compared to its average volume of 1,708,570. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $109.55. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.34 and a beta of 0.83. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $105.79 and a 200-day moving average of $101.12.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.70. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The business had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same period in the prior year, the business posted $2.00 earnings per share. Allstate’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts predict that Allstate Corp will post 9.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. Allstate’s payout ratio is currently 24.78%.

Allstate Company Profile

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.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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