Allstate (NYSE:ALL) Insider Sells $335,218.50 in Stock

The Allstate Corporation (NYSE:ALL) insider Mark Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Allstate Price Performance

Shares of ALL stock opened at $206.51 on Friday. 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 company has a market capitalization of $53.16 billion, a P/E ratio of 4.56, a P/E/G ratio of 0.37 and a beta of 0.21. The company’s 50-day simple moving average is $212.70 and its two-hundred day simple moving average is $208.55. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.53 EPS. As a group, equities analysts anticipate that The Allstate Corporation will post 29.11 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Hedge Funds Weigh In On Allstate

A number of large investors have recently made changes to their positions in ALL. State Street Corp lifted its holdings in shares of Allstate by 3.7% during the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here’s the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research note on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $260.00 to $266.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Wells Fargo & Company increased their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average target price of $241.67.

Allstate Company Profile

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.