Brandywine Global Investment Management LLC Trims Stake in The Allstate Corporation (NYSE:ALL)

Brandywine Global Investment Management LLC reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 19.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 384,365 shares of the insurance provider's stock after selling 94,882 shares during the period. Brandywine Global Investment Management LLC owned 0.15% of Allstate worth $79,590,000 at the end of the most recent quarter.

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Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. Bank of America Corp DE raised its stake in Allstate by 157.9% during the 4th 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 during the last quarter. Boston Partners raised its stake in Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after acquiring an additional 2,134,893 shares during the last quarter. GAMMA Investing LLC raised its stake in Allstate by 25,026.1% during the 1st 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 during the last quarter. Castle Hook Partners LP raised its stake in Allstate by 1,303.3% during the 4th 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 during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Allstate by 261.6% during the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock valued at $160,575,000 after acquiring an additional 602,533 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of several analyst reports. UBS Group upped their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Barclays reissued an "underweight" rating and set a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Cantor Fitzgerald raised Allstate to a "hold" rating in a research note on Wednesday. Evercore ISI increased their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, William Blair assumed coverage on Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.33.

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View Our Latest Report on ALL

Allstate Stock Performance

ALL opened at $208.59 on Friday. The stock has a market cap of $54.96 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.87 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The stock's 50 day simple moving average is $198.18 and its 200 day simple moving average is $198.33. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $213.18.

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Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. As a group, equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. 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 is 18.81%.

About Allstate

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.

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