The Manufacturers Life Insurance Company Boosts Stake in Allstate Corporation (The) (ALL)

The Manufacturers Life Insurance Company grew its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 431,289 shares of the insurance provider’s stock after acquiring an additional 45,342 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Allstate Corporation (The) worth $38,143,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of Allstate Corporation (The) during the 2nd quarter valued at approximately $1,671,000. State of Tennessee Treasury Department lifted its position in shares of Allstate Corporation (The) by 16.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 593,694 shares of the insurance provider’s stock valued at $52,506,000 after acquiring an additional 85,026 shares during the period. State Street Corp lifted its position in shares of 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. Park National Corp OH lifted its position in shares of Allstate Corporation (The) by 1.7% during the 2nd quarter. Park National Corp OH now owns 15,576 shares of the insurance provider’s stock valued at $1,378,000 after acquiring an additional 256 shares during the period. Finally, Westpac Banking Corp lifted its position in shares of Allstate Corporation (The) by 7.0% during the 1st quarter. Westpac Banking Corp now owns 236,644 shares of the insurance provider’s stock valued at $18,726,000 after acquiring an additional 15,508 shares during the period. Institutional investors own 76.12% of the company’s stock.

In related news, President Matthew E. Winter sold 48,059 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total value of $4,543,017.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan L. Lees sold 12,288 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $94.09, for a total transaction of $1,156,177.92. Following the completion of the sale, the executive vice president now owns 73,511 shares of the company’s stock, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,602 shares of company stock valued at $13,272,624. Company insiders own 1.58% of the company’s stock.

TRADEMARK VIOLATION WARNING: This article was first posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The original version of this article can be viewed at https://www.themarketsdaily.com/2017/10/13/the-manufacturers-life-insurance-company-boosts-stake-in-allstate-corporation-the-all.html.

A number of equities research analysts have recently issued reports on ALL shares. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research report on Tuesday, August 1st. Citigroup Inc. lifted their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. BidaskClub downgraded shares of Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and set a $91.00 price target (up from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 price target on shares of Allstate Corporation (The) in a research report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $90.50.

Allstate Corporation (ALL) traded down 0.03% during mid-day trading on Friday, reaching $92.51. 76,115 shares of the company’s stock traded hands. The company has a 50-day moving average of $91.05 and a 200-day moving average of $87.94. The company has a market capitalization of $33.43 billion, a price-to-earnings ratio of 13.66 and a beta of 1.08. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $95.25.

Allstate Corporation (The) (NYSE:ALL) last released its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, beating the consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The business had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.99 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts expect that Allstate Corporation will post $5.87 EPS for the current year.

Allstate Corporation (The) announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corporation (The) (NYSE:ALL).

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.

Latest News

Leave a Reply