Rockefeller Capital Management L.P. Increases Stake in Allstate Corp (NYSE:ALL)

Rockefeller Capital Management L.P. raised its stake in shares of Allstate Corp (NYSE:ALL) by 227.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,754 shares of the insurance provider’s stock after purchasing an additional 1,912 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Allstate were worth $259,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ALL. Boston Partners boosted its holdings in Allstate by 17.1% during the first quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock worth $1,045,965,000 after buying an additional 1,620,871 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Allstate by 6.3% in the fourth quarter. Macquarie Group Ltd. now owns 7,852,608 shares of the insurance provider’s stock valued at $648,861,000 after purchasing an additional 468,725 shares during the period. Northern Trust Corp boosted its stake in Allstate by 2.1% during the fourth quarter. Northern Trust Corp now owns 6,681,038 shares of the insurance provider’s stock worth $552,054,000 after buying an additional 135,679 shares during the period. LSV Asset Management boosted its stake in Allstate by 3.6% during the first quarter. LSV Asset Management now owns 5,854,851 shares of the insurance provider’s stock worth $551,409,000 after buying an additional 204,500 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Allstate by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock valued at $390,468,000 after purchasing an additional 391,869 shares during the period. 77.46% of the stock is owned by institutional investors and hedge funds.

Shares of ALL traded up $0.36 during midday trading on Wednesday, reaching $100.79. 15,086 shares of the stock were exchanged, compared to its average volume of 2,019,571. Allstate Corp has a 12-month low of $77.00 and a 12-month high of $102.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $33.63 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.34 and a beta of 0.81.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.02. The business had revenue of $8.70 billion for the quarter, compared to the consensus estimate of $8.82 billion. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $2.96 EPS. On average, equities research analysts expect that Allstate Corp will post 8.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, May 30th. Allstate’s payout ratio is presently 24.78%.

A number of analysts have weighed in on ALL shares. Goldman Sachs Group raised shares of Allstate from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $106.00 to $110.00 in a report on Wednesday, May 29th. Morgan Stanley lifted their price target on Allstate from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. UBS Group lifted their price target on Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Credit Suisse Group downgraded shares of Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, April 8th. Finally, Zacks Investment Research downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $102.42.

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Allstate Company Profile

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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