Eagle Asset Management Inc. Boosts Stock Holdings in The Allstate Co. (NYSE:ALL)

Eagle Asset Management Inc. lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 19,456 shares of the insurance provider’s stock after acquiring an additional 368 shares during the period. Eagle Asset Management Inc.’s holdings in The Allstate were worth $2,537,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Equitable Holdings Inc. increased its position in shares of The Allstate by 3.6% during the second quarter. Equitable Holdings Inc. now owns 4,466 shares of the insurance provider’s stock worth $583,000 after acquiring an additional 156 shares during the period. Deutsche Bank AG increased its holdings in The Allstate by 23.1% in the second quarter. Deutsche Bank AG now owns 5,042,414 shares of the insurance provider’s stock valued at $657,733,000 after buying an additional 944,919 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in The Allstate by 114.7% in the second quarter. Panagora Asset Management Inc. now owns 810,216 shares of the insurance provider’s stock valued at $105,685,000 after buying an additional 432,854 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in The Allstate by 22.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 229,212 shares of the insurance provider’s stock valued at $29,898,000 after buying an additional 41,775 shares during the last quarter. Finally, Glenview Trust Co increased its holdings in The Allstate by 5.0% in the second quarter. Glenview Trust Co now owns 132,650 shares of the insurance provider’s stock valued at $17,303,000 after buying an additional 6,294 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of ALL opened at $130.50 on Friday. The Allstate Co. has a fifty-two week low of $86.51 and a fifty-two week high of $140.00. The company has a market capitalization of $38.59 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.86. The firm has a 50-day simple moving average of $132.45 and a 200-day simple moving average of $128.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.45 and a current ratio of 0.45.

The Allstate (NYSE:ALL) last announced its earnings results on Tuesday, August 3rd. The insurance provider reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.17 by $0.62. The business had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.57 billion. The Allstate had a net margin of 8.27% and a return on equity of 22.27%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Equities research analysts forecast that The Allstate Co. will post 16.02 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Tuesday, August 31st will be given a $0.81 dividend. The ex-dividend date is Monday, August 30th. This represents a $3.24 dividend on an annualized basis and a yield of 2.48%. The Allstate’s payout ratio is currently 22.00%.

The Allstate announced that its Board of Directors has approved a share buyback plan on Wednesday, August 4th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 13% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Several equities analysts recently commented on ALL shares. UBS Group increased their target price on The Allstate from $118.00 to $139.00 and gave the company a “neutral” rating in a report on Friday, July 9th. Citigroup downgraded shares of The Allstate from a “buy” rating to a “neutral” rating in a research note on Thursday, June 3rd. They noted that the move was a valuation call. Barclays upped their price objective on shares of The Allstate from $144.00 to $147.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Wells Fargo & Company upped their price objective on shares of The Allstate from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, July 9th. Finally, Wolfe Research started coverage on shares of The Allstate in a research note on Monday, August 16th. They issued a “peer perform” rating and a $130.00 price objective for the company. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $140.62.

The Allstate Profile

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

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

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