Hennessy Advisors Inc. Has $10.89 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Hennessy Advisors Inc. reduced its stake in The Allstate Co. (NYSE:ALL) by 10.2% in Q1, holding 52,600 shares valued at $10.89 million. Other institutional investors have also adjusted their positions. Analysts have given Allstate a consensus rating of "Moderate Buy" with a target price of $225.20. The stock recently traded at $198.61, down 0.9%. Allstate reported Q1 earnings of $3.53 per share, missing estimates, and declared a quarterly dividend of $1.00, with a yield of 2.01%.

Hennessy Advisors Inc. trimmed its position in The Allstate Co. (NYSE:ALL - Free Report) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,600 shares of the insurance provider's stock after selling 6,000 shares during the quarter. Hennessy Advisors Inc.'s holdings in Allstate were worth $10,892,000 as of its most recent SEC filing.

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A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC acquired a new position in shares of Allstate during the 4th quarter worth approximately $25,000. Twin Tree Management LP bought a new stake in shares of Allstate during the 4th quarter worth $27,000. Vision Financial Markets LLC bought a new position in Allstate in the fourth quarter valued at about $29,000. Hopwood Financial Services Inc. acquired a new stake in shares of Allstate in the fourth quarter valued at about $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Allstate during the fourth quarter worth approximately $29,000. Institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ALL shares. William Blair started coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley boosted their price target on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods upped their target price on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

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Allstate Trading Down 0.9%

NYSE ALL opened at $198.61 on Friday. The company's fifty day simple moving average is $200.21 and its 200-day simple moving average is $197.01. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $213.18. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a market cap of $52.60 billion, a P/E ratio of 11.69, a PEG ratio of 1.01 and a beta of 0.35.

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Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a net margin of 7.28% and a return on equity of 28.20%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.13 EPS. Equities research analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, June 9th. Allstate's dividend payout ratio (DPR) is 27.32%.

Allstate announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Allstate Profile

(Free Report)

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.

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