The Allstate Corporation (NYSE:ALL) Short Interest Update

Key Points

• The Allstate Corporation saw a significant decline in short interest of 27.5% in July, with total short interest at 3,140,000 shares as of July 31st.
• Allstate reported a $5.94 EPS for the last quarter, far exceeding analysts' expectations of $3.20, although revenue was below estimates at $15.05 billion.
• The company announced a quarterly dividend of $1.00 per share, with an annualized yield of 1.9%, indicating a dividend payout ratio of 18.81%.

The Allstate Corporation (NYSE:ALL - Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 3,140,000 shares, adeclineof27.5% from the July 15th total of 4,330,000 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is currently 2.0 days. Currently,1.2% of the shares of the company are short sold. Currently,1.2% of the shares of the company are short sold. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Allstate by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider's stock worth $6,690,584,000 after acquiring an additional 435,145 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Allstate by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after buying an additional 2,374,684 shares during the last quarter. Geode Capital Management LLC raised its holdings in Allstate by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider's stock valued at $1,345,961,000 after buying an additional 79,366 shares during the last quarter. Bank of America Corp DE raised its holdings in Allstate by 157.9% in the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after buying an additional 4,035,629 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Allstate by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider's stock valued at $940,140,000 after buying an additional 112,858 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ALL shares. William Blair started coverage on shares of Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Evercore ISI upped their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Jefferies Financial Group upped their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Morgan Stanley upped their price target on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $230.73.

Allstate Price Performance

Allstate stock traded down $1.3910 during trading hours on Friday, reaching $205.1590. 1,278,371 shares of the stock were exchanged, compared to its average volume of 1,547,023. The company has a market cap of $54.06 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.84 and a beta of 0.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. Allstate has a twelve month low of $176.00 and a twelve month high of $214.76. The stock has a 50 day moving average of $199.16 and a two-hundred day moving average of $199.01.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. Equities analysts expect that Allstate will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate's dividend payout ratio is 18.81%.

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.