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

by · The Cerbat Gem

The Allstate Co. (NYSE:ALL – Get Free Report) 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.

Check Out Our Latest Research Report on Allstate

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 – Get Free Report) 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

(Get Free Report)

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.

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