Allstate (NYSE:ALL) Insider Suren Gupta Sells 19,593 Shares of Stock

The Allstate Corporation (NYSE:ALL) insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares in the company, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Suren Gupta also recently made the following trade(s):

• On Friday, November 28th, Suren Gupta sold 3,786 shares of Allstate stock. The stock was sold at an average price of $215.13, for a total transaction of $814,482.18.
• On Wednesday, November 26th, Suren Gupta sold 750 shares of Allstate stock. The stock was sold at an average price of $215.01, for a total transaction of $161,257.50.
• On Monday, November 24th, Suren Gupta sold 600 shares of Allstate stock. The shares were sold at an average price of $215.02, for a total transaction of $129,012.00.
• On Friday, November 21st, Suren Gupta sold 21,871 shares of Allstate stock. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91.
• On Monday, November 17th, Suren Gupta sold 400 shares of Allstate stock. The stock was sold at an average price of $215.22, for a total transaction of $86,088.00.
• On Friday, November 14th, Suren Gupta sold 1,400 shares of Allstate stock. The shares were sold at an average price of $215.02, for a total transaction of $301,028.00.

Allstate Stock Performance

NYSE:ALL opened at $210.92 on Friday. The firm’s fifty day simple moving average is $206.93 and its 200 day simple moving average is $203.17. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The firm has a market capitalization of $55.19 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.46 and a beta of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.91 earnings per share. As a group, equities research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, December 1st. Allstate’s dividend payout ratio (DPR) is presently 12.95%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALL. Norges Bank bought a new stake in shares of Allstate in the 2nd quarter worth about $482,870,000. Swedbank AB grew its stake in Allstate by 2,157.8% in the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after purchasing an additional 823,559 shares in the last quarter. Woodline Partners LP bought a new stake in Allstate in the third quarter valued at about $148,641,000. Ameriprise Financial Inc. increased its holdings in Allstate by 52.7% in the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after buying an additional 478,598 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Allstate during the third quarter valued at approximately $100,596,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALL shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. BMO Capital Markets lifted their price target on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wells Fargo & Company upped their price objective on shares of Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, The Goldman Sachs Group set a $227.00 target price on Allstate in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $236.00.

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.