Allstate Corp (NYSE:ALL) Sees Large Decline in Short Interest

Allstate Corp (NYSE:ALL) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 4,361,900 shares, a decline of 10.1% from the June 30th total of 4,854,500 shares. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is presently 2.7 days. Currently, 1.3% of the company’s stock are short sold.

Several research firms have commented on ALL. Credit Suisse Group downgraded shares of Allstate from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $100.00 to $94.00 in a research note on Thursday, July 11th. Goldman Sachs Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Raymond James boosted their price target on shares of Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. Barclays set a $125.00 price target on shares of Allstate and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group boosted their target price on shares of Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Allstate presently has an average rating of “Hold” and an average target price of $108.25.

In other Allstate news, Director Judith A. Sprieser sold 2,225 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $102.63, for a total value of $228,351.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Steven E. Shebik sold 35,014 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $103.64, for a total transaction of $3,628,850.96. Following the completion of the transaction, the insider now owns 121,476 shares of the company’s stock, valued at approximately $12,589,772.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,836 shares of company stock valued at $13,071,947. Insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ALL. Strategy Asset Managers LLC purchased a new stake in Allstate in the first quarter valued at $25,000. Manchester Financial Inc. purchased a new stake in Allstate in the second quarter valued at $25,000. Redhawk Wealth Advisors Inc. purchased a new stake in Allstate in the second quarter valued at $27,000. Stonebridge Capital Advisors LLC purchased a new stake in Allstate in the second quarter valued at $34,000. Finally, Mcmillion Capital Management Inc. purchased a new stake in Allstate in the second quarter valued at $35,000. 78.26% of the stock is owned by hedge funds and other institutional investors.

Shares of ALL stock opened at $101.84 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average price of $103.22 and a 200 day moving average price of $97.79. The company has a market cap of $33.56 billion, a P/E ratio of 12.62, a PEG ratio of 1.32 and a beta of 0.82. Allstate has a 12 month low of $77.00 and a 12 month high of $109.13.

Allstate (NYSE:ALL) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.70. The firm had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 earnings per share. On average, equities analysts forecast that Allstate will post 9.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.96%. Allstate’s dividend payout ratio (DPR) is presently 24.78%.

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.

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