Kempner Capital Management Lowers stake in Allstate Corp (ALL)

Allstate Corp (ALL) : Kempner Capital Management reduced its stake in Allstate Corp by 3.54% during the most recent quarter end. The investment management company now holds a total of 68,138 shares of Allstate Corp which is valued at $4,620,438 after selling 2,500 shares in Allstate Corp , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Allstate Corp makes up approximately 3.17% of Kempner Capital Management’s portfolio.

Other Hedge Funds, Including , West Oak Capital boosted its stake in ALL in the latest quarter, The investment management firm added 811 additional shares and now holds a total of 4,164 shares of Allstate Corp which is valued at $282,361. Allstate Corp makes up approx 0.20% of West Oak Capital’s portfolio.

Allstate Corp closed down -0.56 points or -0.82% at $67.84 with 36,55,309 shares getting traded on Tuesday. Post opening the session at $68.17, the shares hit an intraday low of $67.12 and an intraday high of $68.27 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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 .

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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