Sustainable Insight Capital Management LLC Cuts Stake in The Allstate Corporation $ALL

Sustainable Insight Capital Management LLC lessened its holdings in The Allstate Corporation (NYSE:ALL) by 32.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,184 shares of the insurance provider’s stock after selling 5,900 shares during the quarter. Allstate accounts for 0.8% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Sustainable Insight Capital Management LLC’s holdings in Allstate were worth $2,526,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ALL. MV Capital Management Inc. bought a new position in shares of Allstate during the fourth quarter valued at about $25,000. Dorato Capital Management bought a new stake in shares of Allstate in the 4th quarter valued at about $27,000. Navalign LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. boosted its holdings in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Allstate during the 1st quarter valued at about $30,000. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 2.2%

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

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the company earned $3.53 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Mizuho lifted their price target on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Raymond James Financial increased their price objective on Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. Evercore set a $240.00 target price on shares of Allstate in a report on Friday, July 10th. Roth Capital reaffirmed a “buy” rating and issued a $275.00 target price on shares of Allstate in a research note on Friday, July 17th. Finally, HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and upped their price target for the company from $244.00 to $264.00 in a report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Insider Activity at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The shares were 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 $17,991,267.60. The trade was a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last quarter. 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.