The Allstate Co. (NYSE:ALL) Short Interest Up 17.3% in November

The Allstate Co. (NYSE:ALL - Get Free Report) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,370,000 shares, a growth of 17.3% from the November 15th total of 2,020,000 shares. Approximately 0.9% of the company's stock are sold short. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research reports. Evercore ISI boosted their price target on shares of Allstate from $191.00 to $195.00 and gave the company an "in-line" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their target price on Allstate from $209.00 to $230.00 and gave the company a "buy" rating in a report on Friday, November 15th. TD Cowen raised their price target on Allstate from $193.00 to $224.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. StockNews.com cut Allstate from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 21st. Finally, Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. One 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 company's stock. According to MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average target price of $217.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALL. State Street Corp grew its holdings in Allstate by 1.1% in the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider's stock valued at $2,190,758,000 after purchasing an additional 126,922 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Allstate by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider's stock worth $1,178,164,000 after buying an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock valued at $569,114,000 after acquiring an additional 472,040 shares during the last quarter. Raymond James & Associates grew its position in shares of Allstate by 10.6% in the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider's stock valued at $287,851,000 after purchasing an additional 145,986 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider's stock worth $229,545,000 after buying an additional 47,038 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

NYSE ALL traded down $1.24 during trading hours on Monday, hitting $195.02. 1,338,304 shares of the stock were exchanged, compared to its average volume of 1,549,459. Allstate has a 12-month low of $134.17 and a 12-month high of $209.88. The stock has a 50-day moving average of $194.95 and a 200 day moving average of $181.54. The company has a market cap of $51.64 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion during the quarter, compared to analysts' expectations of $14.57 billion. During the same period last year, the firm earned $0.81 EPS. The company's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts forecast that Allstate will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.89%. Allstate's dividend payout ratio (DPR) is presently 23.83%.

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.