Putnam Investments LLC decreased its stake in Allstate Corp (NYSE:ALL) by 74.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,286 shares of the insurance provider’s stock after selling 272,023 shares during the period. Putnam Investments LLC’s holdings in Allstate were worth $8,697,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ALL. Atlantic Trust Group LLC grew its stake in shares of Allstate by 1.1% during the 1st quarter. Atlantic Trust Group LLC now owns 51,832 shares of the insurance provider’s stock worth $4,913,000 after purchasing an additional 541 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of Allstate by 41.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock worth $183,000 after purchasing an additional 545 shares during the period. Townsend & Associates Inc grew its stake in shares of Allstate by 8.5% during the 2nd quarter. Townsend & Associates Inc now owns 7,144 shares of the insurance provider’s stock worth $652,000 after purchasing an additional 558 shares during the period. Catawba Capital Management VA grew its stake in shares of Allstate by 1.5% during the 2nd quarter. Catawba Capital Management VA now owns 39,271 shares of the insurance provider’s stock worth $3,584,000 after purchasing an additional 566 shares during the period. Finally, Cambria Investment Management L.P. grew its stake in shares of Allstate by 2.7% during the 1st quarter. Cambria Investment Management L.P. now owns 21,935 shares of the insurance provider’s stock worth $2,079,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds own 76.22% of the company’s stock.

A number of equities research analysts recently commented on ALL shares. ValuEngine cut shares of Allstate from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Zacks Investment Research cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. B. Riley increased their price objective on shares of Allstate from $88.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Allstate in a research note on Thursday, August 16th. Finally, Buckingham Research raised shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target on the stock in a research note on Wednesday, July 18th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Allstate currently has a consensus rating of “Hold” and a consensus target price of $104.62.

In other news, insider Glenn T. Shapiro sold 21,728 shares of Allstate stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $98.70, for a total transaction of $2,144,553.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the sale, the executive vice president now owns 14,606 shares in the company, valued at approximately $1,444,095.22. The disclosure for this sale can be found here. Insiders sold 54,432 shares of company stock worth $5,386,208 in the last 90 days. 1.40% of the stock is currently owned by insiders.

NYSE ALL traded down $0.01 during mid-day trading on Friday, hitting $93.16. The company’s stock had a trading volume of 1,858,848 shares, compared to its average volume of 2,073,803. Allstate Corp has a 52-week low of $88.29 and a 52-week high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market capitalization of $34.17 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.27 and a beta of 0.92.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.45. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Allstate’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Allstate Corp will post 9.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, August 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.84 annualized dividend and a yield of 1.98%. Allstate’s payout ratio is 27.42%.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

Further Reading: Average Daily Trade Volume Explained

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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