The Allstate Co. (NYSE:ALL) Short Interest Update

The Allstate Co. (NYSE:ALL) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,960,000 shares, a decline of 11.3% from the October 15th total of 2,210,000 shares. Based on an average daily trading volume, of 1,500,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.7% of the shares of the stock are sold short.

Allstate Stock Up 0.6 %

Shares of NYSE ALL traded up $1.10 during mid-day trading on Friday, hitting $196.88. 1,397,470 shares of the stock traded hands, compared to its average volume of 1,464,175. The company has a market cap of $52.13 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.75 and a beta of 0.48. The stock has a fifty day moving average price of $190.01 and a 200-day moving average price of $176.77. Allstate has a 52 week low of $131.65 and a 52 week high of $201.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Research analysts anticipate that Allstate will post 16.01 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. Allstate’s payout ratio is 23.83%.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Evercore ISI raised their price objective on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 57.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. This trade represents a 77.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,049 shares of company stock valued at $26,106,112 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allstate

A number of hedge funds have recently made changes to their positions in ALL. BDF Gestion bought a new stake in Allstate in the second quarter worth $3,051,000. OFI Invest Asset Management purchased a new position in shares of Allstate in the second quarter worth approximately $476,000. Cetera Investment Advisers grew its position in shares of Allstate by 351.6% during the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock valued at $11,284,000 after acquiring an additional 50,780 shares during the period. Diversified Trust Co increased its position in Allstate by 505.3% in the second quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock worth $1,265,000 after buying an additional 6,614 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Allstate by 97.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 271,464 shares of the insurance provider’s stock worth $46,966,000 after acquiring an additional 134,028 shares during the period. 76.47% of the stock is owned by institutional investors.

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.