The Allstate Corporation (NYSE:ALL – Get Free Report) 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 transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Allstate Stock Up 1.8%
Shares of NYSE:ALL opened at $210.94 on Wednesday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $54.30 billion, a PE ratio of 4.65, a PEG ratio of 0.37 and a beta of 0.18. The company has a 50 day moving average price of $212.78 and a two-hundred day moving average price of $208.59.
Allstate (NYSE:ALL – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.53 earnings per share. Analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current year.
Allstate Announces Dividend
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Wells Fargo & Company upped their price target on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Finally, Mizuho reduced their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.67.
Read Our Latest Stock Report on ALL
Institutional Trading of Allstate
A number of institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after purchasing an additional 438,034 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Allstate by 8.1% in the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after purchasing an additional 596,321 shares in the last quarter. GQG Partners LLC lifted its position in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after purchasing an additional 395,195 shares in the last quarter. 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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