Suren Gupta Sells 45,775 Shares of The Allstate Co. (NYSE:ALL) Stock

The Allstate Co. (NYSE:ALL) insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Allstate Stock Down 0.8 %

Shares of NYSE ALL opened at $172.29 on Thursday. The firm has a market cap of $45.47 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 1 year low of $104.29 and a 1 year high of $179.93. The firm’s 50 day moving average price is $164.02 and its 200 day moving average price is $163.22.

Allstate (NYSE:ALL) last released its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. During the same period in the prior year, the business posted ($1.30) earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently added to or reduced their stakes in ALL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Allstate during the first quarter worth approximately $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate in the fourth quarter worth about $25,000. Rise Advisors LLC acquired a new stake in shares of Allstate in the first quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate during the 1st quarter valued at about $26,000. Finally, Versant Capital Management Inc boosted its holdings in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $194.00 target price on shares of Allstate in a research report on Friday, July 5th. Evercore ISI upped their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets upgraded Allstate from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $190.00 to $191.00 in a research report on Thursday, July 18th. Finally, Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $178.06.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.