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 $3,951,588 were sold by Merten Jesse E on Feb 22. At $134.18 per share, Merten Jesse E sold 29,451 shares. The insider’s holdings dropped to 16,668 shares worth approximately $2.1 million following the completion of this transaction.
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Also, Gupta Suren sold 20,241 shares, netting a total of over 2,773,017 in proceeds. Following the sale of shares at $137.00 each, the insider now holds 82,270 shares.
Before that, Gupta Suren had sold 40,000 shares from its account. In a trade valued at $5,410,200, the President, Enterprise Services traded The Allstate Corporation shares for $135.25 each. Upon closing the transaction, the insider’s holdings decreased to 40,000 shares, worth approximately $10.39 million.
As published in their initiating research note from BMO Capital Markets on January 20, 2023, The Allstate Corporation [ALL] has been a Market perform and the price target has been revised to $130. This represents a 2.86% premium over Thursday’s closing price. Analysts at Keefe Bruyette upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid October. As of May 24, 2022, Citigroup has initiated its “Buy” rating for ALL. Earlier on May 20, 2022, Argus downgraded its rating. Their new recommendation was “a Hold” for ALL stock which previously was a “a Buy”.
Analyzing ALL Stock Performance
On Thursday, The Allstate Corporation [NYSE: ALL] plunged -1.04% to $126.28. The stock’s lowest price that day was $125.46, but it reached a high of $126.99 in the same session. During the last five days, there has been a drop of approximately -4.22%. Over the course of the year, The Allstate Corporation shares have dropped approximately -6.87%. Shares of the company reached a 52-week high of $142.15 on 01/10/23 and a 52-week low of $122.00 on 01/19/23. A 50-day SMA is recorded $133.42, while a 200-day SMA reached $128.63. Nevertheless, trading volume fell to 1.73 million shares from 1.68 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 125.50, which, if violated, would cause prices to drop to 124.71. In the upper region, resistance lies at 127.03. The next price resistance is at 127.77. RSI (Relative Strength Index) is 33.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.23, which suggests the price will decrease in the coming days. Percent R is at 93.95%, indicating bearish price movement. Stochastics %K at buying 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 Jan 30, 2023 dropping by -0.52 million shares to 2.78 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.3 million shares. A decline of -18.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.68 of the overall float, the days-to-cover ratio (short ratio) decline to 1.68.
Which companies own the most shares of The Allstate Corporation (ALL)?
According to The Vanguard Group, Inc. filings, the company currently owns 24,318,916 shares, which is about 9.17% of the total ALL shares outstanding. The investor’s shares have plunged by -246,114 from its previous 13-F filing of 24565030.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,727,867,157. SSgA Funds Management, Inc. acquire a 1.77% interest valued at $1.62 billion while Charles Schwab Investment Managem purchased a 463,281 stake. A total of -16,807 shares of The Allstate Corporation were bought by Geode Capital Management LLC during the quarter, and 3,064,105 were bought by T. Rowe Price Associates, Inc. In its current portfolio, American Century Investment Manag holds 4,687,226 shares valued at $602.17 million.
In terms of The Allstate Corporation share price expectations, FactSet research, analysts set an average price target of $143.50 in the next 12 months, up nearly 13.24% from the previous closing price of $127.61. Analysts anticipate The Allstate Corporation stock to reach $176.00 by 2023, with the lowest price target being $104.00. In spite of this, 21 analysts ranked The Allstate Corporation stock as an Overweight at the end of 2023. On April 28, 2022, Credit Suisse assigned a price target of “an Outperform” to the stock and resumed coverage with a $188.