Suren Gupta Sells 3,786 Shares of Allstate (NYSE:ALL) Stock

The Allstate Corporation (NYSE:ALL) insider Suren Gupta sold 3,786 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $215.13, for a total transaction of $814,482.18. Following the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,651,973.98. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, November 26th, Suren Gupta sold 750 shares of Allstate stock. The shares were sold at an average price of $215.01, for a total transaction of $161,257.50.
• On Monday, November 24th, Suren Gupta sold 600 shares of Allstate stock. The shares were sold at an average price of $215.02, for a total transaction of $129,012.00.
• On Friday, November 21st, Suren Gupta sold 21,871 shares of Allstate stock. The stock was 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 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 stock was sold at an average price of $215.02, for a total value of $301,028.00.

Allstate Trading Down 0.5%

NYSE ALL opened at $208.89 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89. The business has a 50 day moving average price of $204.78 and a 200-day moving average price of $202.48. The company has a market cap of $54.66 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 0.39 and a beta of 0.25.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.Allstate’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.91 EPS. As a group, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALL. Citigroup raised shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Roth Capital increased their price objective on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. BMO Capital Markets lifted their target price on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Wells Fargo & Company increased their price target on Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Institutional Investors Weigh In On Allstate

A number of hedge funds have recently made changes to their positions in ALL. Norges Bank bought a new position in Allstate during the second quarter valued at about $482,870,000. Price T Rowe Associates Inc. MD boosted its stake in Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock valued at $2,424,710,000 after acquiring an additional 2,374,684 shares during the last quarter. Boston Partners grew its position in shares of Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock valued at $512,627,000 after acquiring an additional 2,134,893 shares during the period. Swedbank AB increased its stake in shares of Allstate by 2,157.8% during the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after purchasing an additional 823,559 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Allstate during the 3rd quarter worth approximately $148,641,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Company Profile

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.