The Allstate Co. (NYSE:ALL) Short Interest Down 7.2% in September

The Allstate Co. (NYSE:ALL) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,930,000 shares, a drop of 7.2% from the August 31st total of 2,080,000 shares. Based on an average trading volume of 1,510,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.7% of the shares of the stock are sold short.

Allstate Stock Up 0.6 %

Shares of NYSE:ALL traded up $1.07 during trading on Tuesday, hitting $190.72. 416,326 shares of the company’s stock traded hands, compared to its average volume of 1,553,782. Allstate has a 52 week low of $109.01 and a 52 week high of $193.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a market cap of $50.33 billion, a price-to-earnings ratio of 41.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a 50-day moving average price of $181.62 and a 200-day moving average price of $171.69.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.42) EPS. As a group, research analysts forecast that Allstate will post 15.2 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Insider Buying and Selling at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 238,305 shares of company stock valued at $43,082,657. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Premier Path Wealth Partners LLC raised its stake in shares of Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 61 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Allstate by 8.2% during the 2nd quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock worth $166,000 after acquiring an additional 79 shares during the last quarter. Lodestone Wealth Management LLC increased its holdings in shares of Allstate by 4.8% during the 2nd quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 80 shares during the last quarter. Finally, MCF Advisors LLC increased its holdings in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALL shares. Barclays initiated coverage on Allstate in a report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. The Goldman Sachs Group lifted their price objective on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley lowered their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.76.

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.