Key Points
- Insider sale: Allstate executive Suren Gupta sold 3,786 shares on Nov. 28 at an average of $215.13 for ~$814,482, and sold a total of about 28,807 shares during November (including a 21,871-share block on Nov. 21), leaving him with 100,646 shares (a 3.63% reduction in his stake).
- Earnings beat and dividend: Allstate reported an EPS of $11.17 vs. $5.48 expected and revenue of $17.26B vs. $16.59B, and declared a $1.00 quarterly dividend (ex-dividend Dec. 1, payable Jan. 2) for a 1.9% yield.
- Shares were trading down ~1.4% around $210, with a market cap of about $55B and a P/E of ~9.9; analysts maintain a consensus "Moderate Buy" rating with a $237.92 average price target.
The Allstate Corporation (NYSE:ALL - Get Free Report) insider Suren Gupta sold 750 shares of the business's stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $215.01, for a total transaction of $161,257.50. Following the sale, the insider directly owned 100,646 shares of the company's stock, valued at approximately $21,639,896.46. The trade was a 0.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Suren Gupta also recently made the following trade(s):
- On Friday, November 28th, Suren Gupta sold 3,786 shares of Allstate stock. The stock was sold at an average price of $215.13, for a total value of $814,482.18.
- On Monday, November 24th, Suren Gupta sold 600 shares of Allstate stock. The shares were 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 value 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 value of $86,088.00.
- On Friday, November 14th, Suren Gupta sold 1,400 shares of Allstate stock. The shares were sold at an average price of $215.02, for a total value of $301,028.00.
Allstate Trading Down 1.4%
Allstate stock opened at $210.10 on Tuesday. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89. The firm has a market capitalization of $54.98 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.69 and a beta of 0.35. The firm has a 50 day moving average of $204.76 and a 200 day moving average of $202.48. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.
Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping analysts' consensus estimates of $5.48 by $5.69. The business had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.91 earnings per share. As a group, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.
Allstate Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, December 1st. Allstate's dividend payout ratio is presently 12.95%.
Analyst Ratings Changes
Several equities analysts have recently commented on ALL shares. Evercore ISI set a $233.00 price objective on Allstate and gave the company an "in-line" rating in a research report on Wednesday, October 1st. UBS Group boosted their price target on Allstate from $250.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, November 10th. Wolfe Research raised shares of Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, November 6th. Finally, Citigroup raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $237.92.
Get Our Latest Research Report on ALL
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Avantax Advisory Services Inc. boosted its stake in Allstate by 3.1% during the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider's stock worth $4,745,000 after buying an additional 704 shares during the period. Atlas Capital Advisors Inc. lifted its holdings in shares of Allstate by 197.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock worth $1,390,000 after acquiring an additional 4,454 shares during the last quarter. Commonwealth Retirement Investments LLC boosted its stake in shares of Allstate by 103.5% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider's stock worth $2,609,000 after purchasing an additional 6,590 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Allstate during the 1st quarter valued at about $22,405,000. Finally, Advisors Capital Management LLC purchased a new stake in Allstate in the 1st quarter worth about $301,000. 76.47% of the stock is owned by hedge funds and other institutional investors.
Allstate Company Profile
(
Get Free Report)
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.
Further Reading
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