Allstate Target of Unusually Large Options Trading (NYSE:ALL)

The Allstate Corporation (NYSE:ALL) was the target of some unusual options trading on Tuesday. Stock investors purchased 4,923 put options on the company. This represents an increase of 247% compared to the average volume of 1,418 put options.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Mizuho dropped their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Finally, Wells Fargo & Company raised their price objective on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $245.26.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock valued at $4,851,560 in the last ninety days. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALL. CoreCap Advisors LLC raised its position in Allstate by 51.2% during the 2nd quarter. CoreCap Advisors LLC now owns 1,406 shares of the insurance provider’s stock valued at $334,000 after purchasing an additional 476 shares in the last quarter. Pacific Excel Wealth Advisors Inc. bought a new position in shares of Allstate during the 2nd quarter worth $335,000. Meadowbrook Wealth Management LLC bought a new position in shares of Allstate during the 2nd quarter worth $219,000. Versant Capital Management Inc increased its stake in shares of Allstate by 31.5% during the second quarter. Versant Capital Management Inc now owns 1,693 shares of the insurance provider’s stock valued at $403,000 after buying an additional 406 shares during the period. Finally, First County Bank CT raised its holdings in shares of Allstate by 6.0% in the second quarter. First County Bank CT now owns 1,549 shares of the insurance provider’s stock valued at $369,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 2.9%

Shares of ALL traded up $7.15 during trading hours on Tuesday, reaching $255.52. 551,417 shares of the company traded hands, compared to its average volume of 1,672,057. The stock’s fifty day moving average price is $220.59 and its 200 day moving average price is $211.53. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $65.78 billion, a price-to-earnings ratio of 5.64, a PEG ratio of 0.44 and a beta of 0.16. Allstate has a 12-month low of $188.08 and a 12-month high of $257.67.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $3.53 EPS. Sell-side analysts forecast that Allstate will post 29.75 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Allstate’s payout ratio is currently 9.53%.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.