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

17 Oct 2024, 13:10 by Renee Jackson · The Cerbat Gem

The Allstate Co. (NYSE:ALL – Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,740,000 shares, a drop of 9.8% from the September 15th total of 1,930,000 shares. Based on an average trading volume of 1,490,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.7% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 of the company’s stock, valued at $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allstate

Institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in shares of Allstate in the first quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the first quarter worth about $26,000. Versant Capital Management Inc boosted its position in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the period. Family Firm Inc. purchased a new stake in shares of Allstate in the second quarter worth about $38,000. Finally, MCF Advisors LLC boosted its holdings in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ALL shares. Barclays started coverage on Allstate in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price objective for the company. Raymond James raised their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. Keefe, Bruyette & Woods boosted their price target on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Bank of America cut their price target on Allstate from $226.00 to $216.00 and set a “buy” rating for the company in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.06.

View Our Latest Stock Report on Allstate

Allstate Trading Down 0.1 %

ALL stock traded down $0.27 during trading on Thursday, reaching $195.38. 739,737 shares of the stock traded hands, compared to its average volume of 1,544,896. The business’s 50 day moving average price is $185.67 and its 200-day moving average price is $173.49. Allstate has a 52-week low of $121.70 and a 52-week high of $198.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $51.56 billion, a PE ratio of 43.18, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the previous year, the business earned ($4.42) earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Allstate will post 15.19 earnings per share for the current year.

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