Brandywine Global Investment Management LLC Increases Position in The Allstate Corporation $ALL

Brandywine Global Investment Management LLC increased its position in shares of The Allstate Corporation (NYSE:ALL) by 20.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 306,489 shares of the insurance provider’s stock after acquiring an additional 52,666 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Allstate were worth $63,796,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. South Plains Financial Inc. increased its stake in shares of Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 49 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after purchasing an additional 50 shares during the last quarter. Humankind Investments LLC raised its stake in Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after purchasing an additional 51 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after buying an additional 52 shares during the period. Finally, Montag A & Associates Inc. raised its position in shares of Allstate by 10.2% in the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after buying an additional 55 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Mizuho lowered their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Citigroup increased their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Finally, Wells Fargo & Company upped their target price on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.67.

Allstate Stock Down 0.0%

Shares of Allstate stock opened at $220.98 on Monday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The company has a market capitalization of $56.88 billion, a PE ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50-day moving average of $213.31 and a 200-day moving average of $208.65.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio is 9.53%.

Insider Activity

In other news, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by insiders.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.