Suren Gupta Sells 103,242 Shares of Allstate Corporation (The) (ALL) Stock

Allstate Corporation (The) (NYSE:ALL) insider Suren Gupta sold 103,242 shares of Allstate Corporation (The) stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Allstate Corporation (NYSE:ALL) traded up $0.32 during trading on Tuesday, hitting $99.44. The stock had a trading volume of 1,851,400 shares, compared to its average volume of 1,862,928. Allstate Corporation has a 1-year low of $69.04 and a 1-year high of $100.31. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $35,680.00, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.82 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Allstate Corporation (The) had a return on equity of 13.11% and a net margin of 7.32%. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the company posted $1.26 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. equities research analysts expect that Allstate Corporation will post 6.55 EPS for the current year.

Allstate Corporation (The) declared that its Board of Directors has approved a share repurchase program on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to buy up to 63% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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Several research firms have recently commented on ALL. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research report on Thursday, August 17th. UBS AG reissued a “neutral” rating and issued a $94.00 target price (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. Buckingham Research initiated coverage on Allstate Corporation (The) in a research report on Monday, September 11th. They issued an “underperform” rating and a $74.00 target price on the stock. BidaskClub lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, B. Riley reissued a “neutral” rating on shares of Allstate Corporation (The) in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Allstate Corporation (The) presently has an average rating of “Hold” and an average price target of $93.00.

Several hedge funds have recently modified their holdings of ALL. Arrow Financial Corp grew its stake in shares of Allstate Corporation (The) by 100.0% during the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 553 shares in the last quarter. Sandy Spring Bank grew its stake in shares of Allstate Corporation (The) by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 28 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in shares of Allstate Corporation (The) by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 5 shares in the last quarter. IHT Wealth Management LLC grew its stake in shares of Allstate Corporation (The) by 46.6% during the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 405 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new position in shares of Allstate Corporation (The) during the third quarter worth $116,000. Hedge funds and other institutional investors own 76.42% of the company’s stock.

About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Insider Buying and Selling by Quarter for Allstate Corporation (The) (NYSE:ALL)

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