Deroy Devereaux Private Investment Counsel Inc Lowers stake in Allstate Corp (ALL)

Allstate Corp (ALL) : Deroy Devereaux Private Investment Counsel Inc reduced its stake in Allstate Corp by 3.8% during the most recent quarter end. The investment management company now holds a total of 265,212 shares of Allstate Corp which is valued at $17,663,119 after selling 10,489 shares in Allstate Corp , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Allstate Corp makes up approximately 2.40% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.

Allstate Corp closed down -1.47 points or -2.20% at $65.45 with 32,95,891 shares getting traded on Wednesday. Post opening the session at $65.4, the shares hit an intraday low of $65.24 and an intraday high of $66.57 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Boltwood Capital Management reduced its stake in ALL by selling 3,690 shares or 13.44% in the most recent quarter. The Hedge Fund company now holds 23,758 shares of ALL which is valued at $1,582,283. Allstate Corp makes up approx 1.37% of Boltwood Capital Management’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in ALL in the latest quarter, The investment management firm added 7,831 additional shares and now holds a total of 88,515 shares of Allstate Corp which is valued at $5,895,099. Allstate Corp makes up approx 0.14% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, Allstate Corp reported $1.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $1.34. The company had revenue of $7684.00 million for the quarter, compared to analysts expectations of $7711.49 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS.

Many Wall Street Analysts have commented on Allstate Corp. Allstate Corp was Upgraded by Citigroup to ” Buy” on Feb 5, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 5, 2016 to “Sector Perform” and Lowered the Price Target to $ 67 from a previous price target of $69 .Allstate Corp was Upgraded by Macquarie to ” Outperform” on Jan 19, 2016.

The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries including Allstate Insurance Company Allstate Life Insurance Company and other subsidiaries (collectively Allstate) are engaged in the property-liability insurance and life insurance business. It offers its products in the United States and Canada. Allstate operates in four business segments: Allstate Protection Discontinued Lines and Coverages Allstate Financial and Corporate and Other. The principal geographic markets for its auto homeowners and other personal property and casualty products are in the United States. Through its subsidiaries it sells various types of personal property and casualty insurance products in around 50 states the District of Columbia and Puerto Rico. It sells private passenger auto and homeowners insurance through agencies contact centers and Internet. It sells these products under Allstate Esurance and Encompass brand names.

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