Boston Partners Reduces Stock Position in The Allstate Corporation $ALL

Key Points

• Boston Partners cut its Allstate stake by 19.6% in the fourth quarter, selling 599,036 shares and leaving it with 2.45 million shares worth about $509.4 million.
• Allstate reported strong quarterly results, posting EPS of $10.65 versus the $7.31 estimate and revenue of $16.94 billion, while also beating year-ago sales and profit levels.
• The company announced a quarterly dividend of $1.08 per share, payable July 1, for an annualized yield of about 1.9% at the time of the article.

Boston Partners trimmed its position in The Allstate Corporation (NYSE:ALL - Free Report) by 19.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,451,744 shares of the insurance provider's stock after selling 599,036 shares during the quarter. Boston Partners owned approximately 0.94% of Allstate worth $509,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. Dorato Capital Management acquired a new position in Allstate during the 4th quarter valued at approximately $27,000. Navalign LLC acquired a new position in Allstate during the 4th quarter worth $27,000. Princeton Global Asset Management LLC boosted its position in Allstate by 101.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock worth $31,000 after acquiring an additional 76 shares during the period. Palisade Asset Management LLC acquired a new position in Allstate during the 3rd quarter worth $31,000. Finally, South Plains Financial Inc. boosted its position in Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock worth $36,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on ALL shares. Piper Sandler reissued an "overweight" rating on shares of Allstate in a research note on Thursday, May 28th. The Goldman Sachs Group restated a "neutral" rating and issued a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Mizuho decreased their price target on Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. Zacks Research cut Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company boosted their price objective 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 analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $240.33.

Allstate Stock Up 0.9%

NYSE ALL opened at $221.58 on Friday. The firm has a market cap of $57.04 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 0.39 and a beta of 0.18. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The stock's 50 day simple moving average is $214.68 and its 200 day simple moving average is $208.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the company earned $3.53 EPS. The business's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's payout ratio is 9.53%.

Insider Activity

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the company's 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 directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by insiders.

About Allstate

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.

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