The Allstate Co. (NYSE:ALL) Short Interest Update

The Allstate Co. (NYSE:ALL) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,210,000 shares, a growth of 27.0% from the September 30th total of 1,740,000 shares. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.8% of the shares of the stock are sold short.

Allstate Trading Up 0.9 %

ALL stock traded up $1.61 during mid-day trading on Wednesday, hitting $188.18. 125,500 shares of the company were exchanged, compared to its average volume of 1,529,192. Allstate has a 12-month low of $125.63 and a 12-month high of $198.79. The firm has a market capitalization of $49.66 billion, a P/E ratio of 41.18, a PEG ratio of 1.74 and a beta of 0.48. The business has a fifty day simple moving average of $188.48 and a 200-day simple moving average of $174.85. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted ($4.42) EPS. On average, equities research analysts predict that Allstate will post 15.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALL. Sunbelt Securities Inc. boosted its holdings in Allstate by 38.5% during the 1st quarter. Sunbelt Securities Inc. now owns 363 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 101 shares during the period. Brookstone Capital Management boosted its position in Allstate by 40.8% in the 1st quarter. Brookstone Capital Management now owns 6,368 shares of the insurance provider’s stock valued at $1,102,000 after buying an additional 1,845 shares during the period. Aviance Capital Partners LLC grew its stake in shares of Allstate by 14.1% in the first quarter. Aviance Capital Partners LLC now owns 6,448 shares of the insurance provider’s stock worth $1,116,000 after acquiring an additional 797 shares in the last quarter. Diversified Trust Co purchased a new position in Allstate in the first quarter valued at $226,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Allstate by 145.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 315,083 shares of the insurance provider’s stock worth $54,512,000 after purchasing an additional 186,897 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALL. Piper Sandler increased their price objective on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Evercore ISI upped their price objective on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their target price on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group increased their price target on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.44.

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.