The Allstate Corporation (NYSE:ALL – Get Free Report) was the target of some unusual options trading activity on Tuesday. Traders bought 4,923 put options on the stock. This represents an increase of approximately 247% compared to the typical volume of 1,418 put options.
Analysts Set New Price Targets
ALL has been the subject of several recent research reports. Raymond James Financial boosted their price target on Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Monday. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods lowered Allstate from an “outperform” rating to a “market perform” rating and cut their target price for the company from $266.00 to $242.00 in a research note on Monday, June 8th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Finally, HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and increased their price target for the company from $244.00 to $264.00 in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $245.26.
Read Our Latest Research Report on ALL
Allstate Stock Up 2.9%
Allstate (NYSE:ALL – Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the business earned $3.53 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Allstate will post 29.75 earnings per share for the current year.
Allstate Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a $1.08 dividend. 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 dividend payout ratio (DPR) is presently 9.53%.
Insider Activity
In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.
Institutional Trading of Allstate
Several large investors have recently bought and sold shares of the stock. MV Capital Management Inc. acquired a new stake in shares of Allstate during the fourth quarter worth $25,000. Dorato Capital Management acquired a new position in shares of Allstate in the 4th quarter valued at $27,000. Navalign LLC acquired a new position in shares of Allstate in the 4th quarter valued at $27,000. Evolution Wealth Management Inc. raised its stake in Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Allstate in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.
About Allstate
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.
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