Gotham Asset Management LLC Invests $366,000 in Allstate Corporation (The) (ALL)

Gotham Asset Management LLC bought a new position in Allstate Corporation (The) (NYSE:ALL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,486 shares of the insurance provider’s stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in Allstate Corporation (The) by 8.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock worth $126,000 after buying an additional 122 shares in the last quarter. Oakworth Capital Inc. increased its position 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 worth $145,000 after buying an additional 1,482 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in Allstate Corporation (The) during the first quarter worth approximately $160,000. Parallel Advisors LLC increased its position in Allstate Corporation (The) by 42.4% in the first quarter. Parallel Advisors LLC now owns 2,178 shares of the insurance provider’s stock worth $185,000 after buying an additional 648 shares in the last quarter. Finally, Lafayette Investments Inc. purchased a new position in Allstate Corporation (The) during the first quarter worth approximately $200,000. 77.04% of the stock is currently owned by institutional investors.

Shares of Allstate Corporation (ALL) traded down 0.22% during mid-day trading on Friday, hitting $93.95. The stock had a trading volume of 1,111,369 shares. The stock has a market cap of $33.95 billion, a price-to-earnings ratio of 13.88 and a beta of 1.10. The firm has a 50 day moving average of $90.07 and a 200 day moving average of $84.22. Allstate Corporation has a one year low of $66.55 and a one year high of $94.70.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. On average, analysts forecast that Allstate Corporation will post $6.50 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is 21.86%.

Allstate Corporation (The) declared that its Board of Directors has approved a stock repurchase 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 repurchase up to 63% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of research firms have commented on ALL. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a report on Saturday, June 24th. UBS AG reaffirmed a “neutral” rating and set a $94.00 target price (up previously from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. BidaskClub downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Deutsche Bank AG downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating and increased their target price for the stock from $90.00 to $96.00 in a report on Tuesday. Finally, Barclays PLC increased their target price on Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $90.54.

In other news, insider Sanjay Gupta sold 16,578 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $90.74, for a total value of $1,504,287.72. Following the transaction, the insider now directly owns 68,780 shares of the company’s stock, valued at approximately $6,241,097.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew E. Winter sold 48,058 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $88.81, for a total value of $4,268,030.98. The disclosure for this sale can be found here. Insiders have sold 218,162 shares of company stock worth $19,450,439 over the last ninety days. Company insiders own 1.58% of the company’s stock.

Allstate Corporation (The) Company 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)

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