Insider Selling: Allstate (NYSE:ALL) COO Sells $4,064,866.40 in Stock

The Allstate Corporation (NYSE:ALL) COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Allstate Stock Down 0.3%

Allstate stock opened at $217.95 on Thursday. The company’s 50-day moving average price is $210.82 and its two-hundred day moving average price is $206.14. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $56.11 billion, a P/E ratio of 4.81, a P/E/G ratio of 0.42 and a beta of 0.21. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $222.23.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.53 earnings per share. As a group, analysts expect that The Allstate Corporation will post 27.62 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ALL. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Wells Fargo & Company lifted their price objective on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Evercore set a $225.00 price objective on shares of Allstate in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $241.33.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALL. MV Capital Management Inc. bought a new stake in shares of Allstate during the 4th quarter worth $25,000. Dorato Capital Management bought a new position in shares of Allstate in the fourth quarter worth about $27,000. Navalign LLC acquired a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Evolution Wealth Management Inc. grew its holdings in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in shares of Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.