Insider Selling: Allstate Corp (NYSE:ALL) Insider Sells 22,289 Shares of Stock

Allstate Corp (NYSE:ALL) insider Glenn T. Shapiro sold 22,289 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $102.22, for a total value of $2,278,381.58. Following the completion of the sale, the insider now owns 25,584 shares of the company’s stock, valued at $2,615,196.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of ALL traded down $1.79 during midday trading on Friday, hitting $101.41. 1,294,731 shares of the stock were exchanged, compared to its average volume of 1,348,842. Allstate Corp has a 52-week low of $77.00 and a 52-week high of $107.43. The stock’s fifty day moving average is $101.67. The firm has a market cap of $34.36 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.40 and a beta of 0.81. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.30.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.28 by $0.02. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The business had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the business posted $2.96 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Allstate Corp will post 8.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.97%. Allstate’s dividend payout ratio is currently 24.78%.

ALL has been the subject of several analyst reports. Morgan Stanley increased their price objective on Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Infineon Technologies in a research report on Tuesday, May 7th. Goldman Sachs Group upgraded Koninklijke KPN from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 29th. Credit Suisse Group initiated coverage on Merck & Co., Inc. in a research report on Thursday, July 11th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Zacks Investment Research lowered KKR & Co Inc from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.42.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Cerebellum GP LLC acquired a new stake in shares of Allstate in the second quarter valued at $357,000. Davy Asset Management Ltd acquired a new stake in shares of Allstate in the second quarter valued at $1,520,000. FDx Advisors Inc. raised its stake in shares of Allstate by 3.6% in the second quarter. FDx Advisors Inc. now owns 7,920 shares of the insurance provider’s stock valued at $805,000 after acquiring an additional 275 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in shares of Allstate in the second quarter valued at $198,000. Finally, Bessemer Group Inc. raised its stake in shares of Allstate by 28.1% in the second quarter. Bessemer Group Inc. now owns 88,952 shares of the insurance provider’s stock valued at $9,046,000 after acquiring an additional 19,495 shares in the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.

Allstate Company Profile

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

Further Reading: Are all No-Load Funds Equal?

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.