The Allstate Co. (NYSE:ALL) Insider John E. Dugenske Sells 31,000 Shares

The Allstate Co. (NYSE:ALL) insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Allstate Price Performance

ALL opened at $173.02 on Friday. The firm has a market capitalization of $45.52 billion, a PE ratio of -139.53, a price-to-earnings-growth ratio of 0.45 and a beta of 0.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The business’s 50-day moving average is $159.48 and its two-hundred day moving average is $140.38. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $173.47.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The business had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned ($1.36) EPS. Research analysts anticipate that The Allstate Co. will post 13.11 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be issued a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, March 1st. Allstate’s payout ratio is currently -296.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BMO Capital Markets upped their price objective on Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $164.00 to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $171.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $180.00 in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average target price of $165.56.

Hedge Funds Weigh In On Allstate

A number of large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in Allstate by 484.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after acquiring an additional 275,319 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Allstate during the 3rd quarter worth approximately $2,389,000. Markel Group Inc. increased its stake in Allstate by 10.1% during the 3rd quarter. Markel Group Inc. now owns 141,550 shares of the insurance provider’s stock valued at $15,770,000 after purchasing an additional 13,000 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Allstate by 42.7% in the third quarter. Kestra Private Wealth Services LLC now owns 12,795 shares of the insurance provider’s stock worth $1,425,000 after buying an additional 3,828 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Allstate by 9.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,261,274 shares of the insurance provider’s stock worth $140,519,000 after buying an additional 104,758 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

About Allstate

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.