Rockefeller Capital Management L.P. Sells 168,097 Shares of The Allstate Corporation $ALL

Rockefeller Capital Management L.P. reduced its stake in shares of The Allstate Corporation (NYSE:ALL) by 59.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,377 shares of the insurance provider’s stock after selling 168,097 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Allstate were worth $22,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Atlas Capital Advisors Inc. grew its stake in Allstate by 197.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock worth $1,390,000 after buying an additional 4,454 shares during the last quarter. Commonwealth Retirement Investments LLC boosted its holdings in Allstate by 103.5% in the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock worth $2,609,000 after acquiring an additional 6,590 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Allstate during the first quarter worth about $22,405,000. Advisors Capital Management LLC acquired a new position in shares of Allstate during the first quarter valued at about $301,000. Finally, Nordea Investment Management AB raised its position in shares of Allstate by 434.3% in the 2nd quarter. Nordea Investment Management AB now owns 116,705 shares of the insurance provider’s stock valued at $23,115,000 after purchasing an additional 94,863 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. UBS Group boosted their price objective on shares of Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a report on Monday, November 10th. Roth Capital set a $230.00 target price on Allstate and gave the stock a “buy” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. lifted their price target on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $237.64.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 1,400 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $215.02, for a total transaction of $301,028.00. Following the sale, the insider directly owned 101,031 shares of the company’s stock, valued at approximately $21,723,685.62. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Allstate Stock Down 2.5%

Allstate stock opened at $209.05 on Tuesday. The business’s 50-day moving average price is $202.52 and its 200 day moving average price is $201.77. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm has a market cap of $54.70 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.91 earnings per share. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

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.