Sheets Smith Investment Management Reduces Holdings in The Allstate Corporation $ALL

Key Points

• Sheets Smith Investment Management has reduced its stake in The Allstate Corporation (NYSE: ALL) by 39.9%, now holding 5,169 shares valued at approximately $1.07 million.
• Several institutional investors have increased their positions in Allstate, with Vanguard Group Inc. owning over 32.8 million shares worth approximately $6.79 billion after a 0.5% increase in the first quarter.
• The Allstate Corporation recently reported earnings of $5.94 per share, exceeding estimates, and announced a $1.00 quarterly dividend, reflecting a 2.0% yield.

Sheets Smith Investment Management lowered its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 39.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,169 shares of the insurance provider's stock after selling 3,431 shares during the period. Allstate makes up about 1.1% of Sheets Smith Investment Management's investment portfolio, making the stock its 27th largest position. Sheets Smith Investment Management's holdings in Allstate were worth $1,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ALL. Vanguard Group Inc. grew its position in shares of Allstate by 0.5% during the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after buying an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock worth $2,424,710,000 after buying an additional 2,374,684 shares in the last quarter. GQG Partners LLC grew its position in shares of Allstate by 2.1% during the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock worth $912,288,000 after buying an additional 89,185 shares in the last quarter. Boston Partners grew its position in shares of Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after buying an additional 2,134,893 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Allstate by 24.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,358,883 shares of the insurance provider's stock worth $454,769,000 after buying an additional 462,613 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALL. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. 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. UBS Group boosted their price target on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $202.00 price target on Allstate and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley boosted their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given 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 stock currently has an average rating of "Moderate Buy" and an average target price of $231.21.

Allstate Price Performance

NYSE ALL opened at $202.51 on Friday. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $214.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $53.36 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37. The company has a 50-day moving average price of $200.92 and a two-hundred day moving average price of $200.30.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. Analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is 18.81%.

Allstate Company Profile

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.

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