Allstate Sees Unusually Large Options Volume (ALL)

Allstate Corp (NYSE:ALL) saw unusually large options trading on Thursday. Stock traders bought 5,309 put options on the company. This represents an increase of 1,170% compared to the average volume of 418 put options.

Shares of Allstate stock opened at $93.70 on Friday. Allstate has a 52-week low of $88.29 and a 52-week high of $105.36. The stock has a market capitalization of $31.35 billion, a P/E ratio of 13.96, a PEG ratio of 1.18 and a beta of 0.87. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.30.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). Allstate had a net margin of 9.38% and a return on equity of 15.48%. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Allstate will post 9.25 EPS for the current year.

In other news, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the sale, the executive vice president now directly owns 14,606 shares in the company, valued at approximately $1,444,095.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Boston Partners grew its holdings in Allstate by 11.2% during the 2nd quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock valued at $959,406,000 after buying an additional 1,061,730 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Allstate by 4.3% during the 2nd quarter. Macquarie Group Ltd. now owns 7,478,697 shares of the insurance provider’s stock valued at $682,581,000 after buying an additional 305,110 shares in the last quarter. Northern Trust Corp grew its holdings in Allstate by 0.4% during the 2nd quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock valued at $623,554,000 after buying an additional 24,814 shares in the last quarter. LSV Asset Management grew its holdings in Allstate by 2.1% during the 3rd quarter. LSV Asset Management now owns 5,520,094 shares of the insurance provider’s stock valued at $544,833,000 after buying an additional 111,013 shares in the last quarter. Finally, FMR LLC grew its holdings in Allstate by 24.7% during the 2nd quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock valued at $373,917,000 after buying an additional 811,694 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

A number of research firms have recently commented on ALL. ValuEngine cut Allstate from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Bank of America lowered their target price on Allstate from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the company a “hold” rating in a research note on Wednesday, October 31st. Citigroup lowered their price objective on Allstate from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Finally, B. Riley boosted their price objective on Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Allstate has a consensus rating of “Hold” and an average price target of $103.92.

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Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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