OMERS ADMINISTRATION Corp Takes Position in Allstate Corporation (The) (ALL)

OMERS ADMINISTRATION Corp acquired a new stake in Allstate Corporation (The) (NYSE:ALL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,897 shares of the insurance provider’s stock, valued at approximately $1,671,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in Allstate Corporation (The) by 32.3% during the first quarter. Acadian Asset Management LLC now owns 3,032 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 741 shares during the last quarter. First Midwest Bank Trust Division lifted its stake in Allstate Corporation (The) by 7.1% in the first quarter. First Midwest Bank Trust Division now owns 9,742 shares of the insurance provider’s stock valued at $794,000 after buying an additional 646 shares during the last quarter. Breton Hill Capital Ltd. lifted its stake in Allstate Corporation (The) by 57.5% in the first quarter. Breton Hill Capital Ltd. now owns 14,096 shares of the insurance provider’s stock valued at $1,149,000 after buying an additional 5,145 shares during the last quarter. Oakworth Capital Inc. lifted its stake in Allstate Corporation (The) by 505.8% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the insurance provider’s stock valued at $145,000 after buying an additional 1,482 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new stake in Allstate Corporation (The) in the first quarter valued at $3,244,000. 76.51% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Steven E. Shebik sold 35,197 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the transaction, the chief financial officer now directly owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Matthew E. Winter sold 48,059 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total value of $4,543,017.27. The disclosure for this sale can be found here. In the last three months, insiders sold 150,830 shares of company stock worth $13,911,217. 1.58% of the stock is owned by insiders.

Shares of Allstate Corporation (NYSE ALL) traded up 0.42% on Friday, reaching $90.88. The company’s stock had a trading volume of 2,915,044 shares. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. The company’s 50 day moving average is $91.89 and its 200-day moving average is $86.58. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 13.42 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The company had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. Equities research analysts expect that Allstate Corporation will post $6.33 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a yield of 1.63%. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.

Allstate Corporation (The) announced that its board has authorized a share buyback program on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to purchase up to 63% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a report on Saturday, June 24th. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Deutsche Bank AG cut Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price target for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. Buckingham Research assumed coverage on Allstate Corporation (The) in a research report on Monday. They set an “underperform” rating and a $74.00 price objective for the company. Finally, UBS AG restated a “neutral” rating and set a $94.00 price objective (up from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $90.38.

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.

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

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