Allstate (NYSE:ALL) Insider Suren Gupta Sells 600 Shares

The Allstate Corporation (NYSE:ALL) insider Suren Gupta sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $215.02, for a total value of $129,012.00. Following the sale, the insider directly owned 100,646 shares in the company, valued at $21,640,902.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, November 21st, Suren Gupta sold 21,871 shares of Allstate stock. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91.
• On Monday, November 17th, Suren Gupta sold 400 shares of Allstate stock. The shares were sold at an average price of $215.22, for a total transaction of $86,088.00.
• On Friday, November 14th, Suren Gupta sold 1,400 shares of Allstate stock. The stock was sold at an average price of $215.02, for a total transaction of $301,028.00.

Allstate Trading Up 0.6%

Shares of NYSE:ALL traded up $1.27 during trading on Thursday, reaching $213.92. The company’s stock had a trading volume of 1,373,549 shares, compared to its average volume of 1,636,661. The stock has a market capitalization of $55.98 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $215.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $204.37 and its two-hundred day simple moving average is $202.28.

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

Allstate Dividend Announcement

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

Hedge Funds Weigh In On Allstate

Institutional investors have recently bought and sold shares of the business. Guerra Pan Advisors LLC boosted its position in Allstate by 1.5% during the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 49 shares in the last quarter. South Plains Financial Inc. boosted its position in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares in the last quarter. Humankind Investments LLC grew its stake in Allstate by 4.5% in the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 51 shares during the last quarter. Focus Financial Network Inc. lifted its position in shares of Allstate by 1.1% during the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after buying an additional 52 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Allstate by 4.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after buying an additional 53 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALL has been the topic of several recent analyst reports. Wolfe Research raised shares of Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Cantor Fitzgerald raised Allstate to a “hold” rating in a research note on Wednesday, August 13th. Roth Capital boosted their price objective on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $237.92.

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.