Suren Gupta Sells 21,871 Shares of Allstate (NYSE:ALL) Stock

The Allstate Corporation (NYSE:ALL) insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the sale, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Suren Gupta also recently made the following trade(s):

• On Monday, November 17th, Suren Gupta sold 400 shares of Allstate stock. The stock was sold at an average price of $215.22, for a total value of $86,088.00.
• On Friday, November 14th, Suren Gupta sold 1,400 shares of Allstate stock. The shares were sold at an average price of $215.02, for a total transaction of $301,028.00.

Allstate Price Performance

ALL stock opened at $212.76 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The company’s fifty day moving average price is $204.03 and its 200-day moving average price is $202.20. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.89. The company has a market capitalization of $55.67 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.91 earnings per share. On average, equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. Allstate’s payout ratio is 12.95%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALL. CIBC Private Wealth Group LLC lifted its holdings in shares of Allstate by 11.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 17,204 shares of the insurance provider’s stock worth $3,693,000 after acquiring an additional 1,741 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Allstate in the third quarter worth about $7,814,000. Chartist Inc. CA bought a new stake in Allstate in the third quarter worth about $518,000. First Affirmative Financial Network boosted its position in shares of Allstate by 6.0% during the third quarter. First Affirmative Financial Network now owns 2,049 shares of the insurance provider’s stock valued at $440,000 after buying an additional 116 shares during the period. Finally, Sunbelt Securities Inc. grew its stake in shares of Allstate by 16.8% during the third quarter. Sunbelt Securities Inc. now owns 988 shares of the insurance provider’s stock valued at $212,000 after buying an additional 142 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of research reports. Citigroup raised Allstate to a “hold” rating in a research note on Wednesday, August 13th. Morgan Stanley increased their target price on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.15.

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.