A company insider recently sold 5,511 shares of The Allstate Corporation [ALL]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. The Allstate Corporation shares valued at $694,017 were sold by Prindiville Mark Q on Sep 08. At $125.93 per share, Prindiville Mark Q sold 5,511 shares. The insider’s holdings dropped to 15,552 shares worth approximately $1.99 million following the completion of this transaction.

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Also, WILSON THOMAS J sold 99,828 shares, netting a total of over 13,238,280 in proceeds. Following the sale of shares at $132.61 each, the insider now holds 0 shares.

Before that, WILSON THOMAS J had sold 142,000 shares from its account. In a trade valued at $18,940,873, the Chairman, President & CEO traded The Allstate Corporation shares for $133.39 each. Upon closing the transaction, the insider’s holdings decreased to 142,000 shares, worth approximately $12.77 million.

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 19.52% premium over Thursday’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 Thursday, The Allstate Corporation [NYSE: ALL] rose 0.09% to $127.97. The stock’s lowest price that day was $125.78, but it reached a high of $131.07 in the same session. During the last five days, there has been a drop of approximately -0.81%. Over the course of the year, The Allstate Corporation shares have jumped approximately 8.77%. Shares of the company reached a 52-week high of $144.46 on 04/21/22 and a 52-week low of $111.85 on 07/21/22. A 50-day SMA is recorded $123.23, while a 200-day SMA reached $125.71. Nevertheless, trading volume fell to 1.75 million shares from 1.74 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 125.48, which, if violated, would cause prices to drop to 122.98. In the upper region, resistance lies at 130.77. The next price resistance is at 133.56. RSI (Relative Strength Index) is 53.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.10, which suggests the price will increase in the coming days. Percent R is at 37.49%, indicating low 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 Jul 14, 2022 dropping by 20000.0 shares to 3.29 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.31 million shares. A decline of -0.61% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.6 of the overall float, the days-to-cover ratio (short ratio) decline to 1.6.

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

According to The Vanguard Group, Inc. filings, the company currently owns 24,275,282 shares, which is about 8.98% of the total ALL shares outstanding. The investor’s shares have appreciated by 567,556 from its previous 13-F filing of 23707726.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,631,700,984. SSgA Funds Management, Inc. reduced a -8.64% interest valued at $1.53 billion while Geode Capital Management LLC purchased a 619,491 stake. A total of 182,828 shares of The Allstate Corporation were bought by Charles Schwab Investment Managem during the quarter, and -203,683 were sold by Barrow, Hanley, Mewhinney & Strau. In its current portfolio, American Century Investment Manag holds 4,561,671 shares valued at $549.68 million.

In terms of The Allstate Corporation share price expectations, FactSet research, analysts set an average price target of $141.94 in the next 12 months, up nearly 9.5% from the previous closing price of $127.85. Analysts anticipate The Allstate Corporation stock to reach $188.00 by 2022, with the lowest price target being $110.00. 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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