Sustainable Insight Capital Management LLC Trims Stock Holdings in The Allstate Corporation $ALL

Sustainable Insight Capital Management LLC decreased its position in The Allstate Corporation (NYSE:ALL) by 32.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,184 shares of the insurance provider’s stock after selling 5,900 shares during the quarter. Allstate makes up 0.8% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 27th biggest position. Sustainable Insight Capital Management LLC’s holdings in Allstate were worth $2,526,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. MV Capital Management Inc. purchased a new stake in shares of Allstate in the 4th quarter worth about $25,000. Dorato Capital Management purchased a new position in Allstate during the 4th quarter valued at about $27,000. Navalign LLC bought a new stake in Allstate during the fourth quarter worth about $27,000. Evolution Wealth Management Inc. boosted its stake in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Allstate in the first quarter worth about $30,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 2.2%

Shares of Allstate stock opened at $260.16 on Friday. The company has a 50-day simple moving average of $231.16 and a two-hundred day simple moving average of $216.00. The stock has a market capitalization of $66.97 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $260.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.53 earnings per share. On average, analysts anticipate that The Allstate Corporation will post 30.51 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is 9.53%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James Financial raised their target price on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. Roth Capital restated a “buy” rating and issued a $275.00 price target on shares of Allstate in a research note on Friday, July 17th. Evercore set a $240.00 price objective on Allstate in a research report on Friday, July 10th. UBS Group cut Allstate from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $255.00 to $261.00 in a research note on Wednesday, July 15th. Finally, Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $254.80.

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on 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 directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company’s stock.

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.