Insider Selling: Allstate (NYSE:ALL) Insider Sells 32,996 Shares

The Allstate Corporation (NYSE:ALL) insider John Dugenske sold 32,996 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Allstate Trading Down 2.9%

Shares of NYSE:ALL traded down $7.73 during midday trading on Tuesday, reaching $261.94. The company’s stock had a trading volume of 2,858,309 shares, compared to its average volume of 1,687,815. The business has a 50 day moving average price of $242.76 and a 200 day moving average price of $221.18. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The firm has a market cap of $67.43 billion, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.94 EPS. Research analysts forecast that The Allstate Corporation will post 31.4 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is currently 8.63%.

Analysts Set New Price Targets

Several research analysts recently commented on ALL shares. Evercore set a $240.00 price target on shares of Allstate in a report on Friday, July 10th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and upped their target price for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Citigroup lowered Allstate from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $226.00 to $240.00 in a report on Tuesday. Weiss Ratings upgraded shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday. Finally, Barclays raised their price target on shares of Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Hold” and a consensus target price of $265.53.

Institutional Investors Weigh In On Allstate

Several large investors have recently added to or reduced their stakes in ALL. Brighton Jones LLC lifted its position in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $231,000. WINTON GROUP Ltd acquired a new stake in shares of Allstate in the second quarter valued at approximately $210,000. Treasurer of the State of North Carolina raised its holdings in shares of Allstate by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after buying an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after buying an additional 6,412 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.