Insider Selling: The Allstate Co. (NYSE:ALL) EVP Sells 16,682 Shares of Stock

The Allstate Co. (NYSE:ALL) EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Allstate Stock Down 0.9 %

ALL stock traded down $1.55 during trading on Wednesday, reaching $178.86. 1,865,929 shares of the stock were exchanged, compared to its average volume of 1,566,232. The firm’s 50 day moving average is $167.16 and its 200 day moving average is $165.89. The Allstate Co. has a twelve month low of $104.57 and a twelve month high of $184.30. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $47.20 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same period in the prior year, the business earned ($4.42) EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts forecast that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALL shares. BMO Capital Markets lifted their target price on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. Piper Sandler lifted their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Bank of America lifted their target price on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods lifted their target price on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.94.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Allstate during the 4th quarter worth approximately $212,771,000. Palestra Capital Management LLC bought a new stake in Allstate during the 4th quarter worth approximately $83,561,000. Balyasny Asset Management L.P. bought a new stake in Allstate during the 4th quarter worth approximately $81,571,000. Artemis Investment Management LLP bought a new stake in Allstate during the 1st quarter worth approximately $95,764,000. Finally, AQR Capital Management LLC increased its holdings in Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after purchasing an additional 464,337 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Company Profile

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.