Stock Traders Buy Large Volume of Put Options on Allstate (NYSE:ALL)

The Allstate Corporation (NYSE:ALL) saw unusually large options trading on Thursday. Stock traders acquired 4,659 put options on the company. This represents an increase of approximately 120% compared to the average daily volume of 2,115 put options.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gables Capital Management Inc. bought a new stake in shares of Allstate in the 2nd quarter valued at about $26,000. Kelleher Financial Advisors bought a new position in shares of Allstate during the second quarter valued at approximately $28,000. Allied Private Wealth LLC purchased a new position in Allstate during the second quarter valued at approximately $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Allstate during the first quarter valued at approximately $30,000. Finally, Prudent Man Investment Management Inc. bought a new position in Allstate in the third quarter worth approximately $30,000. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALL shares. Jefferies Financial Group cut their price objective on shares of Allstate from $310.00 to $292.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. The Goldman Sachs Group lowered their price objective on Allstate from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Barclays reduced their price objective on shares of Allstate from $226.00 to $221.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 7th. Cantor Fitzgerald boosted their target price on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Citigroup cut their price objective on Allstate from $240.00 to $215.00 and set a “sell” rating on the stock in a research report on Friday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $270.19.

Allstate Trading Up 3.5%

Shares of NYSE:ALL traded up $9.33 during trading on Thursday, reaching $278.39. 294,092 shares of the company were exchanged, compared to its average volume of 1,738,638. The business’s fifty day simple moving average is $245.85 and its 200-day simple moving average is $229.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a 12-month low of $191.13 and a 12-month high of $280.23. The firm has a market capitalization of $70.39 billion, a PE ratio of 5.57, a P/E/G ratio of 0.58 and a beta of 0.13.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $2.87. The company had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. Allstate’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $11.17 earnings per share. On average, research analysts anticipate that Allstate will post 36.21 EPS for the current year.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate reported Q3 adjusted earnings of $9.76 per share, above analysts’ estimates of about $7, and added auto policies. Article: Allstate tops Q3 earnings estimates
• Neutral Sentiment: Revenue was $17.35 billion, up 0.5% year over year; coverage differed on how it compared with analyst expectations. Article: Allstate reports Q3 sales
• Negative Sentiment: Despite the EPS beat, net income fell about 45% year over year as catastrophe losses increased, a reminder that severe events can weigh heavily on results. Article: Allstate Q3 net income drops on higher catastrophe losses
• Negative Sentiment: Auto policies grew 3.4%, but the report also highlighted rising underlying loss costs while average premiums fell. That combination could squeeze underwriting margins if pricing does not keep pace with claims. Article: Allstate auto policies and loss costs

About Allstate

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.