The Allstate EVP Sells $600,000 in Stock (ALL)
The Allstate (NYSE:ALL) EVP Steven C. Verney sold 10,000 shares of The Allstate stock on the open market in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the executive vice president now directly owns 21,982 shares of the company’s stock, valued at approximately $1,318,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
The Allstate (NYSE:ALL) traded down 0.07% during mid-day trading on Wednesday, hitting $60.11. 2,574,529 shares of the company’s stock traded hands. The Allstate has a 1-year low of $47.32 and a 1-year high of $60.19. The stock’s 50-day moving average is $58.53 and its 200-day moving average is $56.5. The company has a market cap of $26.052 billion and a price-to-earnings ratio of 11.78.
The Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.86 by $0.15. The company had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $7.58 million. During the same quarter last year, the company posted $1.12 earnings per share. The Allstate’s revenue was up 5.0% compared to the same quarter last year. Analysts expect that The Allstate will post $5.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, August 27th.
ALL has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of The Allstate in a research note on Tuesday. They now have a $63.00 price target on the stock, up previously from $60.00. Separately, analysts at Keefe, Bruyette & Woods reiterated a “buy” rating on shares of The Allstate in a research note on Friday, August 1st. They now have a $65.00 price target on the stock, up previously from $63.00. Finally, analysts at Nomura reiterated a “neutral” rating on shares of The Allstate in a research note on Thursday, July 31st. They now have a $57.00 price target on the stock, up previously from $56.00. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.75.
The Allstate Corporation (NYSE:ALL) is a holding company for Allstate Insurance Company.
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