Conning Inc. Trims Position in The Allstate Corporation $ALL

Conning Inc. cut its holdings in shares of The Allstate Corporation (NYSE:ALL) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,736 shares of the insurance provider’s stock after selling 64 shares during the period. Conning Inc.’s holdings in Allstate were worth $349,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its position in shares of Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after buying an additional 51 shares during the period. Vantage Point Financial LLC grew its holdings in shares of Allstate by 3.6% during the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after acquiring an additional 52 shares during the period. Confluence Wealth Services Inc. grew its holdings in shares of Allstate by 0.7% during the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after acquiring an additional 54 shares during the period. Linscomb Wealth Inc. grew its holdings in shares of Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after acquiring an additional 54 shares during the period. Finally, Ancora Advisors LLC grew its holdings in shares of Allstate by 0.7% during the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after acquiring an additional 55 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 1.6%

NYSE:ALL opened at $205.59 on Friday. The company’s 50 day moving average price is $206.06 and its 200-day moving average price is $201.07. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $54.18 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.79 and a beta of 0.38.

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

Allstate Dividend Announcement

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

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Barclays restated an “underweight” rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Two research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.50.

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.