Allstate Corporation (The) (ALL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in Allstate Corporation (The) (NYSE:ALL) by 23.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,079,148 shares of the insurance provider’s stock after selling 649,875 shares during the period. Victory Capital Management Inc. owned about 0.58% of Allstate Corporation (The) worth $191,094,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Arrow Financial Corp raised its stake in shares of Allstate Corporation (The) by 100.0% in the 3rd quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 553 shares during the period. Sandy Spring Bank raised its stake in shares of Allstate Corporation (The) by 2.5% in the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 28 shares during the period. Jackson Grant Investment Advisers Inc. raised its stake in shares of Allstate Corporation (The) by 0.4% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 5 shares during the period. IHT Wealth Management LLC raised its stake in shares of Allstate Corporation (The) by 46.6% in the 2nd quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 405 shares during the period. Finally, Baker Ellis Asset Management LLC purchased a new stake in shares of Allstate Corporation (The) in the 3rd quarter valued at approximately $120,000. 76.75% of the stock is currently owned by institutional investors and hedge funds.

ALL has been the topic of a number of research analyst reports. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, August 17th. Citigroup Inc. boosted 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 note on Thursday, July 13th. BidaskClub downgraded shares of Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and issued a $91.00 price target (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Finally, Deutsche Bank AG downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and boosted their price target for the company from $90.00 to $96.00 in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Allstate Corporation (The) currently has a consensus rating of “Hold” and a consensus target price of $91.62.

Shares of Allstate Corporation (ALL) traded up 0.18% on Tuesday, hitting $94.24. 817,923 shares of the company were exchanged. The company has a 50-day moving average price of $92.12 and a 200 day moving average price of $89.04. The firm has a market cap of $34.05 billion, a P/E ratio of 13.92 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 posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter last year, the firm posted $0.62 earnings per share. Allstate Corporation (The)’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts predict that Allstate Corporation will post $5.83 EPS for the current fiscal year.

Allstate Corporation (The) declared that its board has approved a stock buyback plan on Tuesday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 63% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, EVP Susan L. Lees sold 12,288 shares of the firm’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 value of $1,156,177.92. Following the transaction, the executive vice president now owns 73,511 shares in the company, valued at $6,916,649.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Matthew E. Winter sold 48,059 shares of the firm’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 transaction of $4,543,017.27. The disclosure for this sale can be found here. Insiders sold 95,544 shares of company stock worth $9,017,568 in the last 90 days. 1.58% of the stock is currently owned by insiders.

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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)

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