Allstate Corporation (The) (NYSE:ALL) CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the transaction, the chief financial officer now directly owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of Allstate Corporation (NYSE:ALL) traded down 0.03% during midday trading on Tuesday, hitting $94.21. The stock had a trading volume of 1,609,140 shares. The stock has a 50-day moving average of $89.06 and a 200 day moving average of $83.42. The stock has a market cap of $34.04 billion, a PE ratio of 13.92 and a beta of 1.10. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $94.33.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The company had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.99 billion. During the same quarter in the previous year, the business earned $0.62 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Allstate Corporation will post $6.44 EPS for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 63% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio (DPR) is 21.86%.

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ALL has been the subject of a number of recent analyst reports. Macquarie lowered Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $78.00 to $81.00 in a report on Tuesday, April 18th. They noted that the move was a valuation call. Zacks Investment Research lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Barclays PLC decreased their price objective on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. MKM Partners reissued a “buy” rating and issued a $100.00 price objective (up from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $89.38.

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Allstate Corporation (The) during the fourth quarter valued at approximately $19,212,000. Highbridge Capital Management LLC bought a new stake in Allstate Corporation (The) during the fourth quarter valued at approximately $405,000. Creative Planning boosted its stake in Allstate Corporation (The) by 9.2% in the first quarter. Creative Planning now owns 29,037 shares of the insurance provider’s stock valued at $2,366,000 after buying an additional 2,444 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in Allstate Corporation (The) by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 116,980 shares of the insurance provider’s stock valued at $9,532,000 after buying an additional 1,300 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Allstate Corporation (The) by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 4,431 shares of the insurance provider’s stock valued at $350,000 after buying an additional 55 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Insider Buying and Selling by Quarter for Allstate Corporation (The) (NYSE:ALL)

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