Becker Capital Management Inc Lowers stake in Allstate Corp (ALL)

Allstate Corp (ALL) : Becker Capital Management Inc reduced its stake in Allstate Corp by 0.95% during the most recent quarter end. The investment management company now holds a total of 700,676 shares of Allstate Corp which is valued at $48,087,394 after selling 6,738 shares in Allstate Corp , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Allstate Corp makes up approximately 1.89% of Becker Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in ALL in the latest quarter, The investment management firm added 838 additional shares and now holds a total of 83,892 shares of Allstate Corp which is valued at $5,757,508. Allstate Corp makes up approx 0.13% of Oregon Public Employees Retirement Fund’s portfolio. Herndon Capital Management added ALL to its portfolio by purchasing 34 company shares during the most recent quarter which is valued at $2,323.1st Source Bank reduced its stake in ALL by selling 1,496 shares or 2.67% in the most recent quarter. The Hedge Fund company now holds 54,434 shares of ALL which is valued at $3,719,475. Allstate Corp makes up approx 0.41% of 1st Source Bank’s portfolio.Oakworth Capital boosted its stake in ALL in the latest quarter, The investment management firm added 93 additional shares and now holds a total of 293 shares of Allstate Corp which is valued at $20,276. Allstate Corp makes up approx 0.01% of Oakworth Capital’s portfolio.Capital One National Association reduced its stake in ALL by selling 2,379 shares or 9.65% in the most recent quarter. The Hedge Fund company now holds 22,272 shares of ALL which is valued at $1,538,995. Allstate Corp makes up approx 0.12% of Capital One National Association’s portfolio.

Allstate Corp opened for trading at $68.84 and hit $69.18 on the upside on Monday, eventually ending the session at $69.17, with a gain of 0.48% or 0.33 points. The heightened volatility saw the trading volume jump to 21,94,491 shares. Company has a market cap of $25,694 M.

On the company’s financial health, Allstate Corp reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.58. The company had revenue of $7814.00 million for the quarter, compared to analysts expectations of $7834.00 million. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Investors should note that on Jul 14, 2016, Allstate Corp announced a cash dividend of $0.3300. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on Allstate Corp. Company shares were Reiterated by Deutsche Bank on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 78 from a previous price target of $77 .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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