Traders Purchase High Volume of Put Options on Allstate (ALL)

Allstate Corp (NYSE:ALL) saw some unusual options trading activity on Thursday. Traders bought 5,309 put options on the stock. This is an increase of 1,170% compared to the typical daily volume of 418 put options.

In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the sale, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jesse E. Merten sold 696 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total transaction of $64,115.52. Following the completion of the sale, the executive vice president now directly owns 2,102 shares in the company, valued at $193,636.24. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC acquired a new stake in Allstate in the 3rd quarter valued at about $110,000. Stelac Advisory Services LLC acquired a new stake in Allstate in the 3rd quarter valued at about $128,000. O Shaughnessy Asset Management LLC raised its holdings in Allstate by 1,316.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,331 shares of the insurance provider’s stock valued at $131,000 after acquiring an additional 1,237 shares during the last quarter. Kiley Juergens Wealth Management LLC acquired a new stake in Allstate in the 2nd quarter valued at about $124,000. Finally, Denali Advisors LLC acquired a new stake in Allstate in the 3rd quarter valued at about $158,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.

ALL opened at $93.72 on Friday. Allstate has a twelve month low of $88.29 and a twelve month high of $105.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $31.35 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.18 and a beta of 0.87.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.28). Allstate had a return on equity of 15.48% and a net margin of 9.38%. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the company earned $1.60 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Allstate will post 9.25 earnings per share for the current fiscal year.

Several research firms have commented on ALL. Wells Fargo & Co set a $100.00 price target on shares of Allstate and gave the company a “hold” rating in a report on Thursday. Citigroup lowered their target price on shares of Allstate from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Bank of America lowered their target price on shares of Allstate from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. ValuEngine lowered shares of Allstate from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research lowered shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $103.92.

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Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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