Allstate Corporation (The) (NYSE:ALL) Stake Lessened by Westpac Banking Corp

Westpac Banking Corp reduced its holdings in Allstate Corporation (The) (NYSE:ALL) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,296 shares of the insurance provider’s stock after selling 1,348 shares during the quarter. Westpac Banking Corp’s holdings in Allstate Corporation (The) were worth $7,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALL. BlackRock Inc. increased its position in shares of Allstate Corporation (The) by 1.5% during the 2nd quarter. BlackRock Inc. now owns 26,847,576 shares of the insurance provider’s stock valued at $2,374,397,000 after purchasing an additional 389,249 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Allstate Corporation (The) by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock valued at $2,141,452,000 after acquiring an additional 575,645 shares during the period. State Street Corp boosted its holdings in Allstate Corporation (The) by 3.0% during the 1st quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock valued at $1,472,962,000 after acquiring an additional 530,591 shares during the period. Northern Trust Corp boosted its holdings in Allstate Corporation (The) by 18.8% during the 2nd quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock valued at $636,969,000 after acquiring an additional 1,141,782 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Allstate Corporation (The) by 6.1% during the 1st quarter. AQR Capital Management LLC now owns 6,268,589 shares of the insurance provider’s stock valued at $510,828,000 after acquiring an additional 363,084 shares during the period. Institutional investors and hedge funds own 76.42% of the company’s stock.

In other news, President Matthew E. Winter sold 48,059 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total transaction of $4,543,017.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Shares of Allstate Corporation (ALL) traded up $0.17 on Monday, hitting $99.12. The stock had a trading volume of 1,390,100 shares, compared to its average volume of 1,862,981. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. Allstate Corporation has a 12-month low of $68.92 and a 12-month high of $100.31. The stock has a market cap of $35,566.83, a price-to-earnings ratio of 14.60, a PEG ratio of 1.82 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Allstate Corporation (The) had a return on equity of 13.11% and a net margin of 7.32%. Allstate Corporation (The)’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. research analysts forecast that Allstate Corporation will post 6.55 earnings per share for the current fiscal year.

Allstate Corporation (The) declared that its board has authorized a share buyback program on Tuesday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 63% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several equities research analysts have weighed in on ALL shares. Barclays PLC increased their price objective on Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Zacks Investment Research raised Allstate Corporation (The) from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Citigroup Inc. reduced their price objective on Allstate Corporation (The) from $107.00 to $106.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. UBS AG lifted their target price on Allstate Corporation (The) from $93.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Finally, Deutsche Bank AG lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their target price for the stock from $90.00 to $96.00 in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Allstate Corporation (The) has an average rating of “Hold” and an average price target of $93.00.

COPYRIGHT VIOLATION NOTICE: “Allstate Corporation (The) (NYSE:ALL) Stake Lessened by Westpac Banking Corp” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2017/11/13/allstate-corporation-the-all-holdings-cut-by-westpac-banking-corp.html.

Allstate Corporation (The) Profile

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)

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.

Leave a Reply