Investors Buy Shares of Allstate (ALL) on Weakness

Investors purchased shares of Allstate Corp (NYSE:ALL) on weakness during trading hours on Thursday. $66.65 million flowed into the stock on the tick-up and $32.78 million flowed out of the stock on the tick-down, for a money net flow of $33.87 million into the stock. Of all equities tracked, Allstate had the 20th highest net in-flow for the day. Allstate traded down ($1.18) for the day and closed at $100.80

ALL has been the topic of a number of analyst reports. Buckingham Research initiated coverage on shares of Allstate in a research report on Monday, September 11th. They issued an “underperform” rating and a $74.00 target price on the stock. UBS Group decreased their target price on shares of Allstate from $94.00 to $93.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 19th. Citigroup decreased their target price on shares of Allstate from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Allstate from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Wells Fargo & Co set a $105.00 target price on shares of Allstate and gave the stock a “buy” rating in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $96.43.

The stock has a market capitalization of $36,240.00, a price-to-earnings ratio of 14.00, a PEG ratio of 1.67 and a beta of 1.12. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. Allstate’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. sell-side analysts forecast that Allstate Corp will post 6.23 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 20.56%.

In other news, insider Suren Gupta sold 103,242 shares of Allstate stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Thomas J. Wilson sold 195,000 shares of Allstate stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $99.13, for a total transaction of $19,330,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 432,242 shares of company stock worth $42,827,931 in the last ninety days. Insiders own 1.58% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ALL. Neuberger Berman Group LLC boosted its stake in shares of Allstate by 14.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 47,178 shares of the insurance provider’s stock valued at $4,172,000 after purchasing an additional 5,998 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Allstate by 19.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,850 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 300 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in shares of Allstate by 3.9% during the 2nd quarter. Atlantic Trust Group LLC now owns 48,042 shares of the insurance provider’s stock valued at $4,248,000 after purchasing an additional 1,810 shares in the last quarter. Calamos Advisors LLC lifted its position in Allstate by 2.7% during the 2nd quarter. Calamos Advisors LLC now owns 63,192 shares of the insurance provider’s stock valued at $5,589,000 after acquiring an additional 1,642 shares during the period. Finally, IFM Investors Pty Ltd purchased a new position in Allstate during the 2nd quarter valued at about $895,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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About Allstate

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.

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