Sustainable Insight Capital Management LLC Has $4.72 Million Holdings in The Allstate Corporation (NYSE:ALL)

Key Points

• Sustainable Insight Capital Management LLC reduced its stake in The Allstate Corporation by 13.8%, bringing its total holding to 22,798 shares valued at approximately $4.72 million.
• Multiple hedge funds increased their holdings in Allstate, including Brighton Jones LLC with a 60.2% increase, indicating growing institutional interest in the stock.
• Allstate recently declared a quarterly dividend of $1.00 per share, which represents a 1.9% dividend yield and reflects a payout ratio of 18.81%.

Sustainable Insight Capital Management LLC cut its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 13.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,798 shares of the insurance provider's stock after selling 3,659 shares during the period. Allstate makes up approximately 2.3% of Sustainable Insight Capital Management LLC's investment portfolio, making the stock its 17th largest position. Sustainable Insight Capital Management LLC's holdings in Allstate were worth $4,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ALL. Bank of America Corp DE grew its stake in shares of Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Castle Hook Partners LP grew its stake in shares of Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares in the last quarter. Mackenzie Financial Corp lifted its position in Allstate by 261.6% during the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after purchasing an additional 602,533 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Allstate by 27.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after purchasing an additional 497,982 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. William Blair assumed coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Jefferies Financial Group upped their price objective on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price objective (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $227.50.

Allstate Price Performance

Shares of ALL stock traded down $0.23 on Thursday, reaching $208.59. The company had a trading volume of 879,320 shares, compared to its average volume of 1,747,131. The business's 50-day moving average is $198.14 and its 200 day moving average is $198.23. The stock has a market capitalization of $54.96 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 0.86 and a beta of 0.35. The Allstate Corporation has a one year low of $176.00 and a one year high of $213.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

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, beating analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. Equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

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 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) 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.