Rockefeller Capital Management L.P. Decreases Stake in The Allstate Corporation $ALL

Rockefeller Capital Management L.P. cut its position in shares of The Allstate Corporation (NYSE:ALL) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 306,597 shares of the insurance provider’s stock after selling 24,951 shares during the period. Rockefeller Capital Management L.P.’s holdings in Allstate were worth $63,818,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new stake in Allstate during the third quarter worth approximately $7,814,000. Elo Mutual Pension Insurance Co lifted its stake in shares of Allstate by 39.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock valued at $8,650,000 after purchasing an additional 11,431 shares during the last quarter. Mezzasalma Advisors LLC boosted its holdings in shares of Allstate by 58.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock worth $4,875,000 after purchasing an additional 8,837 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after purchasing an additional 26,586 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its position in Allstate by 28.9% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 50,408 shares of the insurance provider’s stock worth $10,820,000 after buying an additional 11,297 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, 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 transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALL shares. The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Citigroup increased their target price on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Mizuho reduced their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Finally, Barclays raised their price objective on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a report on Wednesday, April 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Allstate Trading Down 0.2%

NYSE ALL opened at $220.72 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $56.82 billion, a price-to-earnings ratio of 4.87, a price-to-earnings-growth ratio of 0.40 and a beta of 0.18. The company’s 50-day simple moving average is $215.95 and its two-hundred day simple moving average is $209.23. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the company earned $3.53 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that The Allstate Corporation will post 29.55 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. Allstate’s dividend payout ratio is currently 9.53%.

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.