Easterly Investment Partners LLC Has $3.38 Million Stake in The Allstate Corporation $ALL

Key Points

• Easterly Investment Partners cut its Allstate stake by 29.1% in the fourth quarter, selling 6,676 shares and ending with 16,235 shares worth about $3.38 million.
• Allstate’s latest quarter was strong, with EPS of $10.65 and revenue of $16.94 billion, both topping analyst expectations; the company also continues to pay a quarterly dividend of $1.08 per share.
• Analysts remain generally positive, with a Moderate Buy consensus and an average price target of $241.67, though recent insider sales and $870 million in estimated April catastrophe losses could pressure sentiment.

Easterly Investment Partners LLC decreased its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,235 shares of the insurance provider's stock after selling 6,676 shares during the quarter. Easterly Investment Partners LLC's holdings in Allstate were worth $3,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp boosted its stake in Allstate by 0.7% in the third quarter. State Street Corp now owns 11,859,517 shares of the insurance provider's stock worth $2,557,362,000 after purchasing an additional 85,468 shares in the last quarter. Boston Partners boosted its stake in Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider's stock worth $654,652,000 after purchasing an additional 395,195 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider's stock worth $562,388,000 after purchasing an additional 88,620 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Allstate by 18.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider's stock worth $559,435,000 after purchasing an additional 401,700 shares in the last quarter. Finally, Norges Bank acquired a new position in Allstate in the fourth quarter worth $531,294,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate News Summary

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here's the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods boosted their price objective on Allstate from $260.00 to $266.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Piper Sandler reissued an "overweight" rating on shares of Allstate in a research note on Thursday. Mizuho reduced their price objective on Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Finally, Zacks Research lowered Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $241.67.

Allstate Trading Up 0.2%

Shares of ALL opened at $206.51 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62. The firm has a market capitalization of $53.16 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of 0.37 and a beta of 0.19. The stock's fifty day simple moving average is $212.70 and its 200-day simple moving average is $208.59.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $15.24 billion. During the same quarter in the prior year, the firm posted $3.53 earnings per share. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts predict that The Allstate Corporation will post 29.11 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, June 1st. Allstate's dividend payout ratio is currently 9.53%.

Insider Transactions at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, COO Mario Rizzo sold 18,578 shares of the company's stock in a transaction dated 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 sale, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.55% of the company's stock.

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.

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