On March 8, 2023 at 14:52:51 ET an unusually large $115.00K block of Call contracts in Allstate (ALL) was sold, with a strike price of $130.00 / share, expiring in 44 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.09 sigmas above the mean, placing it in the 98.26 percentile of all recent large trades made in ALL options.
This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.
Analyst Price Forecast Suggests 18.43% Upside
As of March 8, 2023, the average one-year price target for Allstate is $147.54. The forecasts range from a low of $105.04 to a high of $184.80. The average price target represents an increase of 18.43% from its latest reported closing price of $124.58.
The projected annual non-GAAP EPS is $9.25.
What is the Fund Sentiment?
There are 2148 funds or institutions reporting positions in Allstate. This is an increase of 16 owner(s) or 0.75% in the last quarter. Average portfolio weight of all funds dedicated to ALL is 0.36%, a decrease of 2.02%. Total shares owned by institutions decreased in the last three months by 3.22% to 230,170K shares. The put/call ratio of ALL is 0.67, indicating a bullish outlook.
What are large shareholders doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,059K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 8,063K shares, representing a decrease of 0.05%. The firm increased its portfolio allocation in ALL by 0.50% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 6,131K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 6,127K shares, representing an increase of 0.06%. The firm increased its portfolio allocation in ALL by 0.38% over the last quarter.
Charles Schwab Investment Management holds 5,928K shares representing 2.25% ownership of the company. In it’s prior filing, the firm reported owning 5,465K shares, representing an increase of 7.81%. The firm decreased its portfolio allocation in ALL by 99.90% over the last quarter.
Geode Capital Management holds 5,752K shares representing 2.18% ownership of the company. In it’s prior filing, the firm reported owning 5,769K shares, representing a decrease of 0.29%. The firm increased its portfolio allocation in ALL by 0.39% over the last quarter.
Price T Rowe Associates holds 5,540K shares representing 2.10% ownership of the company. In it’s prior filing, the firm reported owning 2,476K shares, representing an increase of 55.31%. The firm increased its portfolio allocation in ALL by 139.23% over the last quarter.
Allstate Declares $0.89 Dividend
On February 17, 2023 the company declared a regular quarterly dividend of $0.89 per share ($3.56 annualized). Shareholders of record as of February 28, 2023 will receive the payment on April 3, 2023. Previously, the company paid $0.85 per share.
At the current share price of $124.58 / share, the stock’s dividend yield is 2.86%. Looking back five years and taking a sample every week, the average dividend yield has been 2.28%, the lowest has been 1.61%, and the highest has been 3.08%. The standard deviation of yields is 0.34 (n=237).
The current dividend yield is 1.68 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is -0.72. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.65%, demonstrating that it has increased its dividend over time.
Allstate Corp Background Information
(This description is provided by the company.)
The Allstate Corporation protects people from life’s uncertainties with a wide array of protection for autos, homes, electronic devices and identity theft with more than 172 million policies in force. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. Allstate is widely known for the slogan ‘You’re in Good Hands with Allstate.’
This article originally appeared on Fintel
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