Traders Buy Shares of Allstate Corp. (ALL) on Weakness
Traders purchased shares of Allstate Corp. (NYSE:ALL) on weakness during trading on Friday. $28.30 million flowed into the stock on the tick-up and $9.55 million flowed out of the stock on the tick-down, for a money net flow of $18.75 million into the stock. Of all stocks tracked, Allstate Corp. had the 22nd highest net in-flow for the day. Allstate Corp. traded down ($0.27) for the day and closed at $69.17
ALL has been the subject of several recent research reports. Deutsche Bank AG lifted their price target on Allstate Corp. from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Allstate Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. MKM Partners reiterated a “buy” rating on shares of Allstate Corp. in a research report on Thursday, June 16th. Macquarie reiterated an “outperform” rating and issued a $78.00 price target on shares of Allstate Corp. in a research report on Wednesday, June 8th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Allstate Corp. in a research report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of GBX 71 ($0.91).
The stock has a market capitalization of $25.69 billion and a PE ratio of 17.42. The stock has a 50 day moving average of $69.13 and a 200 day moving average of $66.86.
Allstate Corp. (NYSE:ALL) last announced its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. The company earned $9.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Allstate Corp.’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. On average, equities research analysts forecast that Allstate Corp. will post $4.40 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Wednesday, August 31st will be issued a $0.33 dividend. The ex-dividend date is Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.91%.
In related news, CFO Steven E. Shebik sold 20,000 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of GBX 67.46 ($0.87), for a total value of £13,492 ($17,373.17). Following the transaction, the chief financial officer now directly owns 87,388 shares of the company’s stock, valued at approximately £58,951.94 ($75,910.31). The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sanjay Gupta sold 9,137 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of GBX 70 ($0.90), for a total value of £6,395.90 ($8,235.77). The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its position in shares of Allstate Corp. by 113.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 342,119 shares of the company’s stock worth $21,242,000 after buying an additional 182,044 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Allstate Corp. by 736.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,400 shares of the company’s stock worth $5,923,000 after buying an additional 84,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Allstate Corp. by 5.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,124,682 shares of the company’s stock worth $69,832,000 after buying an additional 58,917 shares during the last quarter. KBC Group NV raised its stake in shares of Allstate Corp. by 24.9% in the fourth quarter. KBC Group NV now owns 104,128 shares of the company’s stock worth $6,466,000 after buying an additional 20,765 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Allstate Corp. by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,098,464 shares of the company’s stock worth $192,404,000 after buying an additional 8,592 shares during the last quarter.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.