Kennebec Savings Bank Reduces Stock Holdings in The Allstate Corporation $ALL

Kennebec Savings Bank trimmed its holdings in shares of The Allstate Corporation (NYSE:ALL) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,952 shares of the insurance provider’s stock after selling 121 shares during the quarter. Kennebec Savings Bank’s holdings in Allstate were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. Brighton Jones LLC grew its stake in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Allstate during the 4th quarter worth $231,000. NBC Securities Inc. grew its stake in Allstate by 129,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,586 shares of the insurance provider’s stock worth $535,000 after buying an additional 2,584 shares during the last quarter. Gradient Investments LLC purchased a new position in Allstate during the 1st quarter worth $237,000. Finally, Harbor Investment Advisory LLC grew its stake in Allstate by 22.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,813 shares of the insurance provider’s stock worth $375,000 after buying an additional 333 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ALL. Wolfe Research upgraded Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Jefferies Financial Group boosted their price target on Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods boosted their price target on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Cantor Fitzgerald upgraded Allstate to a “hold” rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.56.

Allstate Stock Down 1.7%

Shares of ALL opened at $211.00 on Thursday. 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 company has a market capitalization of $55.60 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.84 and a beta of 0.38. The stock’s 50-day moving average price is $204.10 and its 200-day moving average price is $201.02.

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

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th were paid a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate’s dividend payout ratio is presently 18.81%.

Allstate Profile

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.