Kornitzer Capital Management Inc. KS Sells 6,066 Shares of The Allstate Corporation (NYSE:ALL)

Kornitzer Capital Management Inc. KS trimmed its position in The Allstate Corporation (NYSE:ALL - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 239,219 shares of the insurance provider's stock after selling 6,066 shares during the period. Allstate accounts for approximately 1.0% of Kornitzer Capital Management Inc. KS's investment portfolio, making the stock its 23rd biggest position. Kornitzer Capital Management Inc. KS owned 0.09% of Allstate worth $49,535,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALL. VSM Wealth Advisory LLC acquired a new stake in shares of Allstate during the fourth quarter valued at about $25,000. Twin Tree Management LP bought a new position in Allstate in the 4th quarter valued at approximately $27,000. Hughes Financial Services LLC acquired a new stake in Allstate during the 1st quarter worth approximately $28,000. Kapitalo Investimentos Ltda bought a new stake in Allstate during the 4th quarter worth approximately $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Allstate in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Up 1.7%

NYSE:ALL traded up $3.20 during trading hours on Wednesday, reaching $195.63. The company had a trading volume of 1,448,218 shares, compared to its average volume of 1,644,703. The Allstate Corporation has a twelve month low of $162.27 and a twelve month high of $213.18. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The firm has a market cap of $51.81 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 0.99 and a beta of 0.33. The business's 50-day simple moving average is $200.54 and its two-hundred day simple moving average is $196.65.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period last year, the company earned $5.13 EPS. Allstate's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.04%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent research reports. Raymond James Financial restated a "strong-buy" rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Barclays increased their price target on Allstate from $172.00 to $188.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Evercore ISI upped their target price on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Morgan Stanley raised their price target on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.07.

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.