Allstate (NYSE:ALL) Insider Sells $4,114,530.00 in Stock

The Allstate Corporation (NYSE:ALL) insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Suren Gupta also recently made the following trade(s):

• On Friday, November 28th, Suren Gupta sold 3,786 shares of Allstate stock. The shares were sold at an average price of $215.13, for a total transaction of $814,482.18.
• On Wednesday, November 26th, Suren Gupta sold 750 shares of Allstate stock. The stock was sold at an average price of $215.01, for a total value of $161,257.50.
• On Monday, November 24th, Suren Gupta sold 600 shares of Allstate stock. The stock was sold at an average price of $215.02, for a total value of $129,012.00.
• On Friday, November 21st, Suren Gupta sold 21,871 shares of Allstate stock. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91.
• On Monday, November 17th, Suren Gupta sold 400 shares of Allstate stock. The stock was sold at an average price of $215.22, for a total transaction of $86,088.00.
• On Friday, November 14th, Suren Gupta sold 1,400 shares of Allstate stock. The stock was sold at an average price of $215.02, for a total value of $301,028.00.

Allstate Stock Performance

NYSE:ALL opened at $212.34 on Friday. The stock has a 50 day simple moving average of $207.34 and a 200 day simple moving average of $203.32. The stock has a market cap of $55.56 billion, a P/E ratio of 6.87, a PEG ratio of 0.47 and a beta of 0.24. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $215.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping the consensus estimate of $5.48 by $5.69. The firm had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.91 EPS. Research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s payout ratio is currently 12.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Morgan Stanley restated an “equal weight” rating and issued a $215.00 price target (down previously from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Mizuho assumed coverage on shares of Allstate in a research note on Monday, December 15th. They set an “outperform” rating and a $254.00 price objective on the stock. William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALL. Vanguard Group Inc. raised its holdings in Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after buying an additional 435,145 shares during the last quarter. State Street Corp raised its position in Allstate by 0.7% in the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after buying an additional 85,468 shares during the last quarter. Geode Capital Management LLC lifted its stake in Allstate by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock valued at $1,345,961,000 after acquiring an additional 79,366 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Allstate by 2.5% during the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock worth $940,140,000 after acquiring an additional 112,858 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after acquiring an additional 395,195 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.