Hennessy Advisors Inc. Reduces Stock Holdings in The Allstate Corporation $ALL

Hennessy Advisors Inc. trimmed its position in The Allstate Corporation (NYSE:ALL) by 16.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,712 shares of the insurance provider’s stock after selling 8,888 shares during the period. Hennessy Advisors Inc.’s holdings in Allstate were worth $8,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ALL. Arlington Trust Co LLC boosted its position in Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Allstate in the first quarter worth about $28,000. Hilltop National Bank purchased a new position in Allstate in the second quarter worth about $34,000. Meeder Asset Management Inc. raised its stake in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after buying an additional 99 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Allstate in the first quarter worth about $43,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ALL. Cantor Fitzgerald raised Allstate to a “hold” rating in a research note on Wednesday, August 13th. Barclays reaffirmed an “underweight” rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Morgan Stanley raised their price objective on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wolfe Research raised Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average price target of $231.56.

Allstate Stock Up 0.4%

Shares of ALL opened at $210.92 on Friday. The business’s 50 day moving average is $204.72 and its 200 day moving average is $201.06. The company has a market capitalization of $55.58 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 0.82 and a beta of 0.38. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. Research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 29th. Allstate’s dividend payout ratio (DPR) is currently 18.81%.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.