Traders Sell Allstate (ALL) on Strength (ALL)
Traders sold shares of Allstate Corp (NYSE:ALL) on strength during trading hours on Wednesday. $15.11 million flowed into the stock on the tick-up and $40.04 million flowed out of the stock on the tick-down, for a money net flow of $24.93 million out of the stock. Of all companies tracked, Allstate had the 32nd highest net out-flow for the day. Allstate traded up $0.04 for the day and closed at $104.42
Several equities analysts recently commented on ALL shares. Zacks Investment Research upgraded Allstate from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Buckingham Research started coverage on Allstate in a research note on Monday, September 11th. They issued an “underperform” rating and a $74.00 target price for the company. UBS upped their target price on Allstate from $93.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Credit Suisse Group upped their target price on Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Finally, Wells Fargo & Company set a $105.00 target price on Allstate and gave the company a “buy” rating in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $96.50.
The stock has a market cap of $37,375.32, a P/E ratio of 15.34, a P/E/G ratio of 2.01 and a beta of 1.12. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.48 annualized dividend and a yield of 1.42%. Allstate’s dividend payout ratio is presently 20.56%.
In other news, Chairman Thomas J. Wilson sold 195,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $99.13, for a total value of $19,330,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suren Gupta sold 103,242 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $98.68, for a total value of $10,187,920.56. The disclosure for this sale can be found here. Insiders have sold 432,242 shares of company stock valued at $42,827,931 over the last 90 days. 1.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Arrow Financial Corp boosted its holdings in Allstate by 100.0% in the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after purchasing an additional 553 shares during the last quarter. Sandy Spring Bank boosted its holdings in Allstate by 2.5% in the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 28 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its holdings in Allstate by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 5 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Allstate by 46.6% in the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 405 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new position in Allstate in the third quarter valued at about $116,000. 76.47% of the stock is owned by institutional investors.
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Allstate Company Profile
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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