Allstate Corporation (The) (NYSE:ALL) was the target of some unusual options trading on Wednesday. Investors bought 10,358 put options on the stock. This represents an increase of 511% compared to the average volume of 1,696 put options.

Several research firms have issued reports on ALL. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. BidaskClub downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $91.00 price objective (up from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $88.00 price objective on shares of Allstate Corporation (The) in a report on Friday, June 16th. Finally, UBS AG restated a “neutral” rating and set a $94.00 price objective (up from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $91.75.

In other Allstate Corporation (The) news, insider Sanjay Gupta sold 16,578 shares of Allstate Corporation (The) stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $90.74, for a total transaction of $1,504,287.72. Following the sale, the insider now directly owns 68,780 shares in the company, valued at approximately $6,241,097.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Matthew E. Winter sold 48,058 shares of Allstate Corporation (The) stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $88.81, for a total value of $4,268,030.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,466 shares of company stock worth $19,683,536. Company insiders own 1.58% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ALL. BlackRock Inc. increased its holdings in Allstate Corporation (The) by 1.5% during the 2nd quarter. BlackRock Inc. now owns 26,847,576 shares of the insurance provider’s stock valued at $2,374,397,000 after purchasing an additional 389,249 shares in the last quarter. Vanguard Group Inc. increased its holdings in Allstate Corporation (The) by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock valued at $2,141,452,000 after purchasing an additional 575,645 shares in the last quarter. State Street Corp increased its holdings in Allstate Corporation (The) by 3.0% during the 1st quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock valued at $1,472,962,000 after purchasing an additional 530,591 shares in the last quarter. Boston Partners increased its holdings in Allstate Corporation (The) by 3.8% during the 1st quarter. Boston Partners now owns 9,278,481 shares of the insurance provider’s stock valued at $756,103,000 after purchasing an additional 341,615 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Allstate Corporation (The) by 18.8% during the 2nd quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock valued at $636,969,000 after purchasing an additional 1,141,782 shares in the last quarter. 76.51% of the stock is owned by institutional investors and hedge funds.

Allstate Corporation (ALL) opened at 89.61 on Friday. The firm has a market cap of $32.38 billion, a price-to-earnings ratio of 13.24 and a beta of 1.09. The company’s 50-day moving average price is $91.68 and its 200-day moving average price is $86.21. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $95.25.

Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The business had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same period in the prior year, the firm posted $0.62 EPS. Allstate Corporation (The)’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts predict that Allstate Corporation will post $6.39 EPS for the current year.

Allstate Corporation (The) declared that its Board of Directors has initiated a share buyback program on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 63% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.65%. Allstate Corporation (The)’s payout ratio is presently 21.86%.

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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.

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