The Allstate Corporation $ALL Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its stake in The Allstate Corporation by 19.8%, retaining 384,365 shares worth approximately $79.59 million at the end of the first quarter.
• Several institutional investors significantly increased their stakes in Allstate, with Bank of America Corp DE raising its ownership by 157.9%, now holding over $1.27 billion in shares.
• The Allstate Corporation reported earnings of $5.94 per share for the quarter, exceeding analysts' expectations of $3.20, although revenue of $15.05 billion fell short of the anticipated $16.59 billion.

Brandywine Global Investment Management LLC lowered its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,365 shares of the insurance provider's stock after selling 94,882 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.15% of Allstate worth $79,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hughes Financial Services LLC bought a new position in shares of Allstate in the first quarter worth $28,000. Kapitalo Investimentos Ltda purchased a new stake in Allstate in the fourth quarter worth about $29,000. Meeder Asset Management Inc. increased its stake in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Allstate in the first quarter worth about $43,000. Finally, Mattson Financial Services LLC purchased a new position in Allstate in the 4th quarter worth about $44,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of NYSE ALL traded up $3.1880 during trading on Tuesday, hitting $210.2780. 965,975 shares of the company were exchanged, compared to its average volume of 1,730,010. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $213.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $55.41 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.84 and a beta of 0.35. The firm's fifty day moving average price is $198.28 and its 200 day moving average price is $198.62.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The company's revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's payout ratio is 18.81%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALL. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. UBS Group raised their price target on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group boosted their price objective on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, William Blair began coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.33.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.