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

The Allstate Co. (NYSE:ALL) was the recipient 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 volume of 1,500,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.7% of the company’s stock are sold short.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Allstate

A number of hedge funds have recently modified their holdings of the business. Pathway Financial Advisers LLC increased its position in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares during the period. AQR Capital Management LLC increased its position in shares of Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after purchasing an additional 464,337 shares during the period. TimesSquare Capital Management LLC bought a new stake in Allstate in the 3rd quarter valued at $77,819,000. Finally, Acadian Asset Management LLC boosted its holdings in Allstate by 3,839.0% during the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after purchasing an additional 405,553 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALL. Evercore ISI raised their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Bank of America increased their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average price target of $214.19.

Allstate Trading Down 1.1 %

ALL stock traded down $2.18 during midday trading on Tuesday, reaching $197.79. 20,385 shares of the company’s stock traded hands, compared to its average volume of 1,533,651. The company has a market capitalization of $52.37 billion, a P/E ratio of 12.95, a PEG ratio of 1.76 and a beta of 0.48. The business has a 50-day moving average price of $190.27 and a two-hundred day moving average price of $177.02. Allstate has a fifty-two week low of $132.74 and a fifty-two week high of $201.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

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

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.86%. Allstate’s dividend payout ratio (DPR) is 23.83%.

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.