Brandywine Global Investment Management LLC Grows Stake in The Allstate Corporation $ALL

Key Points

• Brandywine Global Investment Management increased its Allstate stake by 20.7% in the fourth quarter, adding 52,666 shares and bringing its total holding to 306,489 shares worth about $63.8 million.
• Allstate reported better-than-expected quarterly results, posting EPS of $10.65 versus the $7.31 consensus and revenue of $16.94 billion, while analysts now expect full-year EPS of 29.43.
• The company also announced a quarterly dividend of $1.08 per share, payable July 1, implying a 2.0% annualized yield; meanwhile, insiders have recently sold shares and Wall Street’s consensus remains Moderate Buy.

Brandywine Global Investment Management LLC lifted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 20.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 306,489 shares of the insurance provider's stock after acquiring an additional 52,666 shares during the period. Brandywine Global Investment Management LLC owned 0.12% of Allstate worth $63,796,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ALL. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $231,000. WINTON GROUP Ltd acquired a new stake in shares of Allstate in the second quarter valued at approximately $210,000. Treasurer of the State of North Carolina grew its position in shares of Allstate by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock worth $24,816,000 after acquiring an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC grew its position in shares of Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock worth $7,713,000 after acquiring an additional 6,412 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 in the last quarter. Company insiders own 1.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Wells Fargo & Company lifted their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Barclays upped their target price on shares of Allstate from $207.00 to $208.00 and gave the company an "underweight" rating in a report on Wednesday, April 8th. Wall Street Zen downgraded shares of Allstate from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Mizuho lowered their price target on Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, March 20th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $241.67.

Allstate Stock Performance

NYSE ALL opened at $220.98 on Monday. The stock has a market capitalization of $56.88 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18. The business's 50 day moving average is $213.31 and its two-hundred day moving average is $208.65. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (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 firm had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the prior year, the business posted $3.53 earnings per share. Allstate's revenue was up 3.0% compared to the same quarter last year. Research analysts expect that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is 9.53%.

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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