Rockefeller Capital Management L.P. Reduces Position in The Allstate Corporation $ALL

Rockefeller Capital Management L.P. trimmed its holdings in The Allstate Corporation (NYSE:ALL) by 7.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 306,597 shares of the insurance provider’s stock after selling 24,951 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.12% of Allstate worth $63,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in Allstate during the fourth quarter valued at $531,294,000. GQG Partners LLC grew its stake in shares of Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. increased its position in shares of Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after purchasing an additional 822,583 shares during the period. Finally, Woodline Partners LP purchased a new position in shares of Allstate in the third quarter worth approximately $148,641,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.2%

Shares of ALL stock opened at $220.72 on Friday. 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 Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The company’s fifty day moving average price is $215.95 and its 200-day moving average price is $209.23. The company has a market capitalization of $56.82 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the firm posted $3.53 EPS. Allstate’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that The Allstate Corporation will post 29.55 EPS for the current fiscal year.

Allstate Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALL shares. Mizuho dropped their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Barclays lifted their target price on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Finally, Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.33.

Insider Buying and Selling

In related news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by corporate 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.