Allstate Corporation (The) Sees Unusually High Options Volume (ALL)

Allstate Corporation (The) (NYSE:ALL) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 10,358 put options on the company. This is an increase of 511% compared to the typical volume of 1,696 put options.

Shares of Allstate Corporation (NYSE:ALL) opened at 89.61 on Monday. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. The company’s 50-day moving average is $91.68 and its 200 day moving average is $86.21. The stock has a market cap of $32.38 billion, a P/E ratio of 13.24 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. Allstate Corporation (The)’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Equities research analysts anticipate that Allstate Corporation will post $6.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.

Allstate Corporation (The) announced that its board has initiated a stock buyback program on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 63% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several research firms have commented on ALL. Barclays PLC lifted their target price on shares of Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Citigroup Inc. lifted their target price on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Deutsche Bank AG cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their target price for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $91.00 target price (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Finally, BidaskClub cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $91.75.

In other news, CFO Steven E. Shebik sold 35,197 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the completion of the transaction, the chief financial officer now directly owns 127,560 shares of the company’s stock, valued at approximately $12,026,356.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Matthew E. Winter sold 48,059 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $94.53, for a total transaction of $4,543,017.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,466 shares of company stock valued at $19,683,536. Corporate insiders own 1.58% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Allstate Corporation (The) by 1.5% during the 2nd quarter. BlackRock Inc. now owns 26,847,576 shares of the insurance provider’s stock worth $2,374,397,000 after buying an additional 389,249 shares during the period. Vanguard Group Inc. boosted its holdings in Allstate Corporation (The) by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock valued at $2,141,452,000 after purchasing an additional 575,645 shares during the period. State Street Corp boosted its holdings in Allstate Corporation (The) by 3.0% in the 1st quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock valued at $1,472,962,000 after purchasing an additional 530,591 shares during the period. Boston Partners boosted its holdings in Allstate Corporation (The) by 3.8% in the 1st quarter. Boston Partners now owns 9,278,481 shares of the insurance provider’s stock valued at $756,103,000 after purchasing an additional 341,615 shares during the period. Finally, Northern Trust Corp boosted its holdings in Allstate Corporation (The) by 18.8% in the 2nd quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock valued at $636,969,000 after purchasing an additional 1,141,782 shares during the period. 76.51% of the stock is owned by institutional investors and hedge funds.

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About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

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