Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The most significant news of the last quarter was the sudden reversal of the interest rate increase that took place during the summer. This was due to a few factors, including slightly improved inflation, the Federal Reserve’s dovish comments, and some technical issues with the issuance of Treasury bonds. As a result, the benchmark 10-year yield fell by more than 100 basis points, which is one of the steepest drops in history. Most broad-market indices advanced by double digits in the quarter with the Russell Midcap Value Index gaining 12%. The best-performing sectors were financials, real estate, and consumer discretionary, while energy, consumer staples, and healthcare lagged. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Chartwell Mid Cap Value Fund featured stocks like The Allstate Corporation (NYSE:ALL) in the Q4 2023 investor letter. Headquartered in Northbrook, Illinois, The Allstate Corporation (NYSE:ALL) is an insurance company that provides property and casualty, and other insurance products. On March 28, 2024, The Allstate Corporation (NYSE:ALL) stock closed at $173.01 per share. One-month return of The Allstate Corporation (NYSE:ALL) was 8.46%, and its shares gained 58.59% of their value over the last 52 weeks. The Allstate Corporation (NYSE:ALL) has a market capitalization of $45.513 billion.
Carillon Chartwell Mid Cap Value Fund stated the following regarding The Allstate Corporation (NYSE:ALL) in its fourth quarter 2023 investor letter:
The Allstate Corporation (NYSE:ALL) is an insurer focused on the property and casualty and life markets. Results benefitted from an improvement in the auto business. The company’s plan to divest its health benefits division also was received well by the market.
A close-up of a hand signing a property casualty insurance product contract.
The Allstate Corporation (NYSE:ALL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, The Allstate Corporation (NYSE:ALL) was held by 51 hedge fund portfolios, up from 35 in the previous quarter, according to our database.
We discussed The Allstate Corporation (NYSE:ALL) in another article and shared the list of largest insurance companies in the US by assets in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
