Insider Selling: The Allstate Co. (NYSE:ALL) CFO Sells 40,102 Shares of Stock

The Allstate Co. (NYSE:ALL) CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Allstate Stock Down 0.0 %

Shares of Allstate stock traded down $0.05 on Wednesday, hitting $189.38. 2,641,333 shares of the company’s stock traded hands, compared to its average volume of 1,786,019. The stock has a market cap of $50.15 billion, a P/E ratio of 11.15, a PEG ratio of 1.47 and a beta of 0.52. The firm’s 50-day moving average is $191.77 and its 200 day moving average is $189.48. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities analysts anticipate that The Allstate Co. will post 18.64 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.94%. Allstate’s dividend payout ratio is presently 21.66%.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently modified their holdings of ALL. JPMorgan Chase & Co. raised its position in shares of Allstate by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock worth $109,605,000 after purchasing an additional 28,584 shares during the period. Ameritas Advisory Services LLC increased its holdings in Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after buying an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. raised its position in Allstate by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock valued at $11,297,000 after acquiring an additional 3,800 shares in the last quarter. Artemis Investment Management LLP lifted its stake in Allstate by 33.3% in the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after acquiring an additional 100,311 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after purchasing an additional 2,888 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALL. UBS Group boosted their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets upped their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Piper Sandler raised their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Jefferies Financial Group upped their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

About Allstate

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.