Hennessy Advisors Inc. Sells 8,888 Shares of The Allstate Corporation $ALL

Key Points

• Hennessy Advisors Inc. decreased its holdings in The Allstate Corporation by 16.9%, selling 8,888 shares, leading to a total of 43,712 shares valued at approximately $8,800,000.
• Allstate reported a significant earnings per share (EPS) of $5.94 for the quarter, which exceeded analysts' expectations of $3.20, while its revenue of $15.05 billion fell short of the forecasted $16.59 billion.
• The company declared a quarterly dividend of $1.00 per share, representing a 1.9% dividend yield and an annualized payout of $4.00, with a payout ratio of 18.81%.

Hennessy Advisors Inc. lessened its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 16.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,712 shares of the insurance provider's stock after selling 8,888 shares during the quarter. Hennessy Advisors Inc.'s holdings in Allstate were worth $8,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ALL. Arlington Trust Co LLC raised its holdings 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 in the last quarter. Hughes Financial Services LLC bought a new position in Allstate in the first quarter worth $28,000. Hilltop National Bank bought a new position in Allstate in the second quarter worth $34,000. Meeder Asset Management Inc. raised its holdings in 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 purchasing an additional 99 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Allstate in the first quarter worth $43,000. Institutional investors own 76.47% of the company's stock.

Allstate Trading Up 0.4%

Allstate stock opened at $210.92 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.70. The stock 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 business's fifty day moving average is $204.72 and its 200 day moving average is $201.06.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS 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 analysts' expectations of $16.59 billion. During the same period last year, the firm posted $1.61 earnings per share. Allstate'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 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALL shares. Morgan Stanley increased their price objective on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Roth Capital set a $230.00 target price on Allstate and gave the stock a "buy" rating in a research note on Friday, September 26th. Cantor Fitzgerald raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Allstate in a research note on Saturday, September 27th. Finally, UBS Group increased their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Two equities 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 company's stock. Based on data from MarketBeat.com, Allstate presently has an average rating of "Moderate Buy" and a consensus target price of $231.56.

Allstate Company 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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