SoFi CEO enters prepaid forward contract on 1.5 million shares
Thomas J. Wilson, Chairman, President, and CEO of Allstate Corp (NYSE:ALL), a prominent insurance provider with a market capitalization of $55.6 billion and an "GREAT" financial health score according to InvestingPro, executed significant stock sales as reported in a recent SEC filing. On March 24, Wilson sold a total of 31,502 shares of Allstate common stock, generating proceeds of approximately $6.52 million. The sales were conducted at prices ranging from $206.7479 to $207.4187 per share, with the stock currently trading near its 52-week high and showing a robust 24% return over the past year. According to InvestingPro analysis, Allstate appears slightly undervalued at current levels. Following these transactions, Wilson holds 31,502 shares indirectly through TJW Options LLC 2014 Series. For deeper insights into Allstate’s valuation and 10+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Allstate Corporation has been the focus of various developments that are significant for investors. Keefe, Bruyette & Woods analysts have reiterated an Outperform rating for Allstate, maintaining a price target of $240.00. Their analysis highlighted that Allstate’s GAAP reserves were $509 million higher than necessary at year-end 2024, reflecting a reserve redundancy across most lines except Auto Liability. Piper Sandler analysts also maintained an Overweight rating, with a $248.00 price target, expressing confidence in Allstate’s potential to reverse the decline in auto insurance policies in force (PIF) and achieve growth this year.
Additionally, Allstate has appointed Andréa Carter as Executive Vice President and Chief Human Resources Officer, aiming to enhance workforce capabilities. The company has also been involved in a lawsuit filed by New York Attorney General Letitia James, related to data breaches that occurred in 2020 and 2021, exposing personal information of over 165,000 New Yorkers. The lawsuit alleges inadequate data security measures by National General, which Allstate acquired.
Furthermore, Allstate reported January catastrophe losses due to California wildfires, totaling $1.08 billion, aligning with previous estimates. Despite these challenges, Keefe, Bruyette & Woods maintained their earnings per share estimates for Allstate, projecting $17.50 for 2025 and $20.75 for 2026. These developments reflect ongoing investor interest in Allstate’s financial performance and strategic initiatives.
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