The Allstate Co. (NYSE:ALL) Insider Sells $6,959,916.46 in Stock

The Allstate Co. (NYSE:ALL) insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Allstate Stock Down 0.7 %

Shares of Allstate stock opened at $188.69 on Friday. The firm has a market cap of $49.80 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 1.81 and a beta of 0.48. The stock has a 50-day simple moving average of $180.80 and a 200-day simple moving average of $170.99. The Allstate Co. has a 52-week low of $109.01 and a 52-week high of $193.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.42) earnings per share. On average, equities research analysts expect that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.95%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALL. The Goldman Sachs Group raised their price objective on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Piper Sandler raised their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their target price on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Barclays assumed coverage on Allstate in a report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.76.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SageView Advisory Group LLC bought a new stake in Allstate during the fourth quarter worth approximately $456,000. Rafferty Asset Management LLC lifted its stake in shares of Allstate by 5.7% in the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after buying an additional 4,987 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Allstate during the 4th quarter worth $5,927,000. BDF Gestion acquired a new position in Allstate in the 2nd quarter valued at $3,051,000. Finally, BNP Paribas Financial Markets raised its holdings in Allstate by 55.8% in the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after acquiring an additional 78,316 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

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.