Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock

The Allstate Corporation (NYSE:ALL) insider Mark Prindiville sold 1,550 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Allstate Stock Performance

Shares of ALL traded down $3.92 during mid-day trading on Wednesday, hitting $208.90. The company’s stock had a trading volume of 1,226,139 shares, compared to its average volume of 1,628,317. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $53.78 billion, a PE ratio of 4.61, a price-to-earnings-growth ratio of 0.39 and a beta of 0.21. The stock’s 50-day moving average is $212.64 and its two-hundred day moving average is $208.45.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. Allstate’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Corporation will post 29.28 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. Allstate’s payout ratio is 9.53%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. MV Capital Management Inc. acquired a new position in Allstate during the fourth quarter worth $25,000. Navalign LLC acquired a new position in Allstate during the fourth quarter worth $27,000. Dorato Capital Management acquired a new position in Allstate during the fourth quarter worth $27,000. Evolution Wealth Management Inc. raised its stake in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new position in Allstate during the third quarter worth $31,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ALL shares. Mizuho dropped their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Citigroup lifted their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Piper Sandler raised their price objective on shares of Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

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.