GW Henssler & Associates Ltd. Lowers Stock Holdings in The Allstate Corporation $ALL

Key Points

• GW Henssler & Associates Ltd. reduced its stake in The Allstate Corporation by 35.8%, bringing its total holdings to 116,430 shares worth approximately $23.4 million.
• Allstate reported earnings of $5.94 per share for the latest quarter, significantly beating estimates, although revenue was 5.8% higher year-over-year but missed the consensus.
• Several analysts have increased their price targets for Allstate, with a consensus price target of $234.50, reflecting confidence in the stock's growth potential.

GW Henssler & Associates Ltd. trimmed its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 35.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,430 shares of the insurance provider's stock after selling 64,946 shares during the quarter. Allstate accounts for approximately 1.3% of GW Henssler & Associates Ltd.'s investment portfolio, making the stock its 27th biggest position. GW Henssler & Associates Ltd.'s holdings in Allstate were worth $23,438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arlington Trust Co LLC boosted its holdings in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 89 shares during the period. Hughes Financial Services LLC purchased a new position in Allstate during the 1st quarter valued at about $28,000. Hilltop National Bank acquired a new stake in Allstate in the 2nd quarter valued at about $34,000. Meeder Asset Management Inc. raised its position in Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in Allstate in the 1st quarter valued at about $43,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 1.6%

NYSE:ALL opened at $205.59 on Friday. The stock's 50 day moving average price is $206.06 and its 200 day moving average price is $201.07. The company has a market capitalization of $54.18 billion, a PE ratio of 9.67, a P/E/G ratio of 0.79 and a beta of 0.38. 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 Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.70.

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

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, August 29th were issued 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 currently 18.81%.

Analysts Set New Price Targets

ALL has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Citigroup upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Roth Capital set a $230.00 price objective on Allstate and gave the company a "buy" rating in a report on Friday, September 26th. UBS Group increased their price objective on Allstate from $235.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $234.50.

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.

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