Sunday, June 26, 2022

A company insider recently sold 99,828 shares of The Allstate Corporation [ALL]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. The Allstate Corporation shares valued at $13,238,280 were sold by WILSON THOMAS J on Jun 03. At $132.61 per share, WILSON THOMAS J sold 99,828 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, WILSON THOMAS J sold 142,000 shares, netting a total of over 18,940,873 in proceeds. Following the sale of shares at $133.39 each, the insider now holds 99,828 shares.

Before that, SPRIESER JUDITH A had sold 1,623 shares from its account. In a trade valued at $220,046, the Director traded The Allstate Corporation shares for $135.58 each. Upon closing the transaction, the insider’s holdings decreased to 1,623 shares, worth approximately $0.0.

As published in their initiating research note from Citigroup on May 24, 2022, The Allstate Corporation [ALL] has been a Buy and the price target has been revised to $159. This represents a 23.23% premium over Wednesday’s closing price. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid May. Earlier on March 18, 2022, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for ALL stock which previously was a “an Outperform”.

Analyzing ALL’s Price Performance

On Wednesday, The Allstate Corporation [NYSE: ALL] rose 0.22% to $122.07. The stock’s lowest price that day was $119.855, but it reached a high of $123.061 in the same session. During the last five days, there has been a surge of approximately 0.07%. Over the course of the year, The Allstate Corporation shares have jumped approximately 3.76%. Shares of the company reached a 52-week high of $144.46 on 04/21/22 and a 52-week low of $115.61 on 02/03/22. A 50-day SMA is recorded $130.70, while a 200-day SMA reached $125.38. Nevertheless, trading volume fell to 1.24 million shares from 1.16 million shares the previous day.

Support And Resistance Levels for The Allstate Corporation (ALL)

According to the 24-hour chart, there is a support level at 120.26, which, if violated, would cause prices to drop to 118.46. In the upper region, resistance lies at 123.47. The next price resistance is at 124.87. RSI (Relative Strength Index) is 37.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.61, which suggests the price will decrease in the coming days. Percent R is at 73.33%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is The Allstate Corporation subject to short interest?

Stocks of The Allstate Corporation saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.31 million shares to 3.44 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 3.75 million shares. A decline of -9.01% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.98 of the overall float, the days-to-cover ratio (short ratio) decline to 1.98.

Which companies own the most shares of The Allstate Corporation (ALL)?

According to The Vanguard Group, Inc. filings, the company currently owns 23,707,726 shares, which is about 8.62% of the total ALL shares outstanding. The investor’s shares have appreciated by 789,198 from its previous 13-F filing of 22918528.0 shares. With the completion of the sale, SSgA Funds Management, Inc.’s stake is now worth $1,898,226,332. BlackRock Fund Advisors reduced a -2.37% interest valued at $1.85 billion while Barrow, Hanley, Mewhinney & Strau purchased a 422,150 stake. A total of 149,040 shares of The Allstate Corporation were bought by Geode Capital Management LLC during the quarter, and 8,837 were bought by Charles Schwab Investment Managem. In its current portfolio, American Century Investment Manag holds 4,341,890 shares valued at $593.49 million.

In terms of The Allstate Corporation share price expectations, FactSet research, analysts set an average price target of $147.38 in the next 12 months, up nearly 20.69% from the previous closing price of $121.80. Analysts anticipate The Allstate Corporation stock to reach $188.00 by 2022, with the lowest price target being $118.00. In spite of this, 22 analysts ranked The Allstate Corporation stock as an Overweight at the end of 2022. On March 02, 2022, Goldman assigned a price target of “a Buy” to the stock and upgraded coverage with a $142.

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