Investors Sell Shares of Allstate (ALL) on Strength (ALL)

Investors sold shares of Allstate Corp (NYSE:ALL) on strength during trading on Wednesday. $30.06 million flowed into the stock on the tick-up and $65.51 million flowed out of the stock on the tick-down, for a money net flow of $35.45 million out of the stock. Of all companies tracked, Allstate had the 0th highest net out-flow for the day. Allstate traded up $0.61 for the day and closed at $95.75

Several brokerages have commented on ALL. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the company a “hold” rating in a research report on Thursday. Zacks Investment Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 13th. ValuEngine raised Allstate from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. Citigroup set a $115.00 price objective on Allstate and gave the company a “buy” rating in a research report on Friday, October 12th. Finally, Credit Suisse Group began coverage on Allstate in a research report on Tuesday, August 7th. They set an “outperform” rating and a $114.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Allstate currently has an average rating of “Hold” and a consensus price target of $104.62.

The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $33.15 billion, a PE ratio of 14.40, a PEG ratio of 1.24 and a beta of 0.91.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.45. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.53 billion. Allstate had a return on equity of 15.21% and a net margin of 9.06%. Allstate’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. As a group, analysts predict that Allstate Corp will post 9.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, August 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, August 30th. Allstate’s dividend payout ratio (DPR) is 27.42%.

In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $98.87, for a total value of $1,039,618.05. Following the completion of the transaction, the executive vice president now owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenn T. Shapiro sold 21,728 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $98.70, for a total value of $2,144,553.60. The disclosure for this sale can be found here. In the last three months, insiders sold 54,432 shares of company stock valued at $5,386,208. 1.40% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Bowling Portfolio Management LLC raised its position in Allstate by 2.3% in the 3rd quarter. Bowling Portfolio Management LLC now owns 41,198 shares of the insurance provider’s stock worth $4,066,000 after buying an additional 916 shares during the last quarter. Aperio Group LLC grew its stake in shares of Allstate by 2.3% during the 3rd quarter. Aperio Group LLC now owns 488,012 shares of the insurance provider’s stock valued at $48,167,000 after purchasing an additional 11,006 shares during the period. Independence Bank of Kentucky grew its stake in shares of Allstate by 14.4% during the 3rd quarter. Independence Bank of Kentucky now owns 5,171 shares of the insurance provider’s stock valued at $510,000 after purchasing an additional 651 shares during the period. First Hawaiian Bank bought a new stake in shares of Allstate during the 3rd quarter valued at about $2,345,000. Finally, Courier Capital LLC grew its stake in shares of Allstate by 12.6% during the 3rd quarter. Courier Capital LLC now owns 6,789 shares of the insurance provider’s stock valued at $670,000 after purchasing an additional 759 shares during the period. 76.23% of the stock is owned by institutional investors and hedge funds.

Allstate Company Profile (NYSE:ALL)

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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