Alliancebernstein Lowers stake in Allstate Corp (ALL)

Allstate Corp (ALL) : Alliancebernstein reduced its stake in Allstate Corp by 19.17% during the most recent quarter end. The investment management company now holds a total of 9,998,484 shares of Allstate Corp which is valued at $673.7 Million after selling 2,370,591 shares in Allstate Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Allstate Corp makes up approximately 0.59% of Alliancebernstein’s portfolio.

Other Hedge Funds, Including , Kingfisher Capital sold out all of its stake in ALL during the most recent quarter. The investment firm sold 80 shares of ALL which is valued $5,390.Martingale Asset Management L P boosted its stake in ALL in the latest quarter, The investment management firm added 33,211 additional shares and now holds a total of 169,915 shares of Allstate Corp which is valued at $11.4 Million. Allstate Corp makes up approx 0.23% of Martingale Asset Management L P’s portfolio.Janney Montgomery Scott boosted its stake in ALL in the latest quarter, The investment management firm added 3,757 additional shares and now holds a total of 43,592 shares of Allstate Corp which is valued at $2.9 Million. Allstate Corp makes up approx 0.08% of Janney Montgomery Scott’s portfolio. Lmr Partners Llp added ALL to its portfolio by purchasing 7,453 company shares during the most recent quarter which is valued at $500,096. Allstate Corp makes up approx 0.08% of Lmr Partners Llp’s portfolio.

Allstate Corp closed down -0.16 points or -0.24% at $67.28 with 17,15,470 shares getting traded on Wednesday. Post opening the session at $67.68, the shares hit an intraday low of $67.205 and an intraday high of $67.83 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Allstate Corp reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.68. The company had revenue of $7723.00 million for the quarter, compared to analysts expectations of $7765.30 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS.

Many Wall Street Analysts have commented on Allstate Corp. Company shares were Reiterated by Deutsche Bank on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 79 from a previous price target of $71 .

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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