The Allstate Co. (NYSE:ALL) Short Interest Update

The Allstate Co. (NYSE:ALL) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,960,000 shares, a decrease of 11.3% from the October 15th total of 2,210,000 shares. Based on an average daily trading volume, of 1,500,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Evercore ISI boosted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. UBS Group upped their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company upped their target price on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several institutional investors and hedge funds have recently bought and sold shares of ALL. Dorsey & Whitney Trust CO LLC raised its position in shares of Allstate by 20.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,017 shares of the insurance provider’s stock worth $349,000 after acquiring an additional 340 shares in the last quarter. Acadian Asset Management LLC lifted its position in Allstate by 154.2% during the first quarter. Acadian Asset Management LLC now owns 10,564 shares of the insurance provider’s stock valued at $1,825,000 after purchasing an additional 6,409 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Allstate in the first quarter valued at about $498,000. Hillsdale Investment Management Inc. purchased a new position in shares of Allstate in the first quarter valued at about $619,000. Finally, Trustmark National Bank Trust Department lifted its position in shares of Allstate by 216.8% in the first quarter. Trustmark National Bank Trust Department now owns 8,348 shares of the insurance provider’s stock valued at $1,444,000 after acquiring an additional 5,713 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Allstate stock traded up $3.09 during midday trading on Monday, hitting $199.97. 1,106,333 shares of the company’s stock were exchanged, compared to its average volume of 1,540,314. Allstate has a 52-week low of $132.74 and a 52-week high of $201.00. The stock has a 50-day moving average price of $190.01 and a two-hundred day moving average price of $176.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $52.95 billion, a P/E ratio of 12.75, a PEG ratio of 1.75 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. On average, equities research analysts forecast that Allstate will post 16.01 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

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.