Andrea Redmond Sells 2,225 Shares of Allstate (NYSE:ALL) Stock

The Allstate Corporation (NYSE:ALL) Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Allstate Stock Down 0.5%

ALL stock opened at $209.43 on Thursday. 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 Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The stock has a market capitalization of $53.91 billion, a P/E ratio of 4.62, a P/E/G ratio of 0.38 and a beta of 0.18. The business has a fifty day moving average price of $212.91 and a 200-day moving average price of $208.59.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the company posted $3.53 earnings per share. Allstate’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate’s payout ratio is presently 9.53%.

Institutional Trading of Allstate

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Allstate by 11.9% during the first quarter. Parallel Advisors LLC now owns 8,615 shares of the insurance provider’s stock valued at $1,786,000 after purchasing an additional 919 shares during the period. NewEdge Advisors LLC grew its holdings in Allstate by 12.9% during the first quarter. NewEdge Advisors LLC now owns 38,693 shares of the insurance provider’s stock valued at $8,023,000 after purchasing an additional 4,432 shares during the period. Financial Solutions Advisory Group Inc. bought a new stake in Allstate during the first quarter valued at about $470,000. Ipsen Advisor Group LLC grew its holdings in Allstate by 2.0% during the first quarter. Ipsen Advisor Group LLC now owns 2,998 shares of the insurance provider’s stock valued at $622,000 after purchasing an additional 58 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Allstate by 16.7% during the first quarter. Glenmede Trust Co. NA now owns 125,729 shares of the insurance provider’s stock valued at $26,069,000 after purchasing an additional 17,951 shares during the period. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Barclays lifted their price objective on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a report on Wednesday, April 8th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 price objective on shares of Allstate in a report on Thursday, March 5th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.67.

About Allstate

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.