The Allstate Sees Large Increase in Short Interest (ALL)
Shares of The Allstate (NYSE:ALL) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 15,282,985 shares, a growth of 228.5% from the July 31st total of 4,652,908 shares, StockRatingsNetwork.com reports. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 3,048,443 shares, the short-interest ratio is presently 5.0 days.
ALL has been the subject of a number of recent research reports. Analysts at Compass Point initiated coverage on shares of The Allstate in a research note on Thursday, August 28th. They set a “neutral” rating and a $63.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of The Allstate in a research note on Tuesday, August 12th. They now have a $63.00 price target on the stock, up previously from $60.00. Finally, 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. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.62.
Shares of The Allstate (NYSE:ALL) opened at 61.37 on Friday. The Allstate has a 1-year low of $47.83 and a 1-year high of $62.09. The stock has a 50-day moving average of $59.77 and a 200-day moving average of $57.65. The company has a market cap of $26.598 billion and a P/E ratio of 12.07.
The Allstate (NYSE:ALL) last released its earnings data on Wednesday, July 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that The Allstate will post $5.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, August 27th.
The Allstate Corporation (NYSE:ALL) is a holding company for Allstate Insurance Company.
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