Allstate Corp (ALL) Short Interest Up 62.9% in December

Allstate Corp (NYSE:ALL) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 8,062,492 shares, an increase of 62.9% from the November 30th total of 4,950,499 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average daily volume of 2,046,665 shares, the short-interest ratio is currently 3.9 days.

In other Allstate news, EVP Susan L. Lees sold 4,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the transaction, the executive vice president now directly owns 24,341 shares in the company, valued at approximately $2,446,027.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Suren Gupta sold 103,242 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,242 shares of company stock worth $42,827,931. 1.58% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in Allstate by 4,753.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,296,651 shares of the insurance provider’s stock worth $203,116,000 after acquiring an additional 2,249,334 shares during the period. APG Asset Management N.V. boosted its holdings in Allstate by 182.7% in the 3rd quarter. APG Asset Management N.V. now owns 3,368,436 shares of the insurance provider’s stock worth $309,593,000 after acquiring an additional 2,176,800 shares during the period. Voya Investment Management LLC boosted its holdings in Allstate by 480.2% in the 2nd quarter. Voya Investment Management LLC now owns 1,496,235 shares of the insurance provider’s stock worth $132,328,000 after acquiring an additional 1,238,341 shares during the period. Northern Trust Corp boosted its holdings in Allstate by 18.8% in the 2nd quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock worth $636,969,000 after acquiring an additional 1,141,782 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Allstate by 22.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,210,943 shares of the insurance provider’s stock worth $387,030,000 after acquiring an additional 769,761 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

ALL has been the topic of a number of recent research reports. Buckingham Research assumed coverage on shares of Allstate in a report on Monday, September 11th. They issued an “underperform” rating and a $74.00 target price on the stock. UBS Group dropped their price objective on shares of Allstate from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Citigroup dropped their price objective on shares of Allstate from $107.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. Zacks Investment Research downgraded shares of Allstate from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Wells Fargo & Co set a $105.00 price objective on shares of Allstate and gave the company a “buy” rating in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $96.43.

Shares of Allstate (NYSE:ALL) opened at $100.80 on Friday. The stock has a market cap of $36,170.00, a P/E ratio of 14.00, a P/E/G ratio of 1.67 and a beta of 1.12. Allstate has a 1 year low of $73.04 and a 1 year high of $105.36. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.26 EPS. analysts expect that Allstate will post 6.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 20.56%.

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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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