Deroy & Devereaux Private Investment Counsel Inc. Has $16.79 Million Holdings in Allstate Corporation (The) (ALL)

Deroy & Devereaux Private Investment Counsel Inc. decreased its position in shares of Allstate Corporation (The) (NYSE:ALL) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 182,702 shares of the insurance provider’s stock after selling 919 shares during the quarter. Allstate Corporation (The) comprises approximately 1.9% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its 20th largest position. Deroy & Devereaux Private Investment Counsel Inc. owned approximately 0.05% of Allstate Corporation (The) worth $16,792,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALL. Citizens & Northern Corp raised its holdings in Allstate Corporation (The) by 8.9% during the 1st quarter. Citizens & Northern Corp now owns 20,566 shares of the insurance provider’s stock worth $1,676,000 after purchasing an additional 1,673 shares during the last quarter. TLP Group LLC bought a new position in Allstate Corporation (The) during the 1st quarter worth approximately $815,000. Principal Financial Group Inc. raised its holdings in Allstate Corporation (The) by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 523,481 shares of the insurance provider’s stock worth $42,659,000 after purchasing an additional 4,497 shares during the last quarter. Wellington Management Group LLP raised its holdings in Allstate Corporation (The) by 3.0% during the 1st quarter. Wellington Management Group LLP now owns 2,654,029 shares of the insurance provider’s stock worth $216,275,000 after purchasing an additional 77,439 shares during the last quarter. Finally, Edge Asset Management Inc. raised its holdings in Allstate Corporation (The) by 0.5% during the 1st quarter. Edge Asset Management Inc. now owns 1,274,657 shares of the insurance provider’s stock worth $103,872,000 after purchasing an additional 5,799 shares during the last quarter. Hedge funds and other institutional investors own 75.92% of the company’s stock.

Allstate Corporation (NYSE ALL) traded down 0.24% during mid-day trading on Friday, reaching $93.73. 1,215,084 shares of the company traded hands. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $95.25. The stock has a market capitalization of $33.87 billion, a price-to-earnings ratio of 13.84 and a beta of 1.08. The company’s 50-day moving average is $91.99 and its 200-day moving average is $88.83.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.48. The business had revenue of $8.02 billion during 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. Equities analysts predict that Allstate Corporation will post $5.83 earnings per share for the current fiscal year.

Allstate Corporation (The) declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company’s management believes its shares are undervalued.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the transaction, the chief financial officer now owns 127,560 shares in the company, valued at $12,026,356.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Matthew E. Winter sold 48,059 shares of the stock in a transaction on Tuesday, August 15th. The stock was 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 quarter, insiders sold 95,544 shares of company stock valued at $9,017,568. 1.58% of the stock is owned by corporate insiders.

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Several research firms have recently weighed in on ALL. Wells Fargo & Company set a $105.00 price objective on shares of Allstate Corporation (The) and gave the company a “buy” rating in a research note on Thursday, October 19th. Zacks Investment Research lowered shares of Allstate Corporation (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Citigroup Inc. lowered their price objective on shares of Allstate Corporation (The) from $107.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. UBS AG lowered their price objective on shares of Allstate Corporation (The) from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Finally, Buckingham Research began coverage on shares of Allstate Corporation (The) in a research note on Monday, September 11th. They issued an “underperform” rating and a $74.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.62.

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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