Allstate (NYSE:ALL) Insider Sells $8,886,812.68 in Stock

The Allstate Corporation (NYSE:ALL) insider John Dugenske sold 32,996 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Allstate Stock Down 2.9%

NYSE:ALL traded down $7.73 during midday trading on Tuesday, hitting $261.94. 2,858,309 shares of the company were exchanged, compared to its average volume of 1,687,815. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a market capitalization of $67.43 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $242.76 and a 200 day simple moving average of $221.18.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the prior year, the firm posted $5.94 earnings per share. Allstate’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts anticipate that The Allstate Corporation will post 31.4 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALL shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $280.00 price objective on shares of Allstate in a report on Friday. Barclays upped their price target on shares of Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday. UBS Group raised their price objective on shares of Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Piper Sandler upped their target price on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $265.53.

Institutional Trading of Allstate

Several hedge funds and other institutional investors have recently made changes to their positions in ALL. BlackRock Inc. acquired a new position in Allstate during the second quarter worth about $5,439,448,000. State Street Corp increased its position in Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after buying an additional 438,034 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Allstate by 8.1% in the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the last quarter. GQG Partners LLC lifted its position in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after acquiring an additional 1,131,172 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.