Insider Selling: Allstate (NYSE:ALL) COO Sells 18,578 Shares of Stock

Key Points

• Allstate COO Mario Rizzo sold 18,578 shares on May 1 at an average price of $218.80 for about $4.06 million, cutting his ownership by 18.43% to 82,227 shares valued at roughly $17.99 million.
• Allstate beat expectations for the quarter with EPS of $10.65 (vs. $7.31 est.) and revenue of $16.94B (vs. $15.24B), recently raised its quarterly dividend to $1.08 ($4.32 annually), and holds a consensus “Moderate Buy” with an average price target of $240.56.

The Allstate Corporation (NYSE:ALL - Get Free Report) COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on 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 sale, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Allstate Stock Performance

NYSE:ALL traded up $3.09 during trading hours on Monday, hitting $219.68. 1,757,530 shares of the company traded hands, compared to its average volume of 1,603,424. The stock has a market capitalization of $56.55 billion, a price-to-earnings ratio of 4.85, a P/E/G ratio of 0.43 and a beta of 0.21. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $210.35 and a 200 day moving average of $205.85. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $221.19.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.53 EPS. On average, analysts forecast that The Allstate Corporation will post 26.35 EPS for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Allstate's previous quarterly dividend of $1.00. Allstate's payout ratio is currently 9.53%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new position in Allstate during the 4th quarter valued at about $25,000. Dorato Capital Management acquired a new position in Allstate during the 4th quarter valued at about $27,000. Navalign LLC acquired a new position in Allstate during the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. lifted its position in 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 period. Finally, Barnes Dennig Private Wealth Management LLC lifted its position in 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 period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Zacks Research cut shares of Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods upped their price objective on Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, February 10th. Evercore set a $225.00 price objective on Allstate in a research report on Wednesday, January 7th. Cantor Fitzgerald reissued a "neutral" rating and issued a $220.00 target price on shares of Allstate in a research note on Thursday, February 5th. Finally, TD Cowen cut Allstate from a "buy" rating to a "hold" rating in a research note on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $240.56.

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.

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