Insider Selling: Allstate (NYSE:ALL) Director Sells $451,474.75 in Stock

The Allstate Corporation (NYSE:ALL) Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Allstate Trading Up 0.7%

Shares of NYSE:ALL opened at $210.73 on Friday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62. The company has a market capitalization of $54.25 billion, a PE ratio of 4.65, a PEG ratio of 0.37 and a beta of 0.18. The business has a 50 day moving average of $212.98 and a two-hundred day moving average of $208.57. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the company posted $3.53 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, June 1st. Allstate’s payout ratio is presently 9.53%.

Hedge Funds Weigh In On Allstate

Large investors have recently modified their holdings of the business. MV Capital Management Inc. acquired a new position in shares of Allstate in the 4th quarter valued at $25,000. Dorato Capital Management acquired a new position in shares of Allstate in the 4th quarter valued at $27,000. Navalign LLC acquired a new position in shares of Allstate in the 4th quarter valued at $27,000. Evolution Wealth Management Inc. lifted its stake in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Allstate in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ALL shares. Mizuho dropped their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Piper Sandler restated an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Citigroup upped their target price on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Raymond James Financial restated a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $241.67.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.