Allstate Corporation (The) (ALL) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 4,871,642 to 4,493,826 shares, with 3 days to go before the expiry. The short open interest has decreased by -7.8%, amounting to a reduction of -377,816 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 1.2% of the float of the company. The average daily volume of the stock is 1,572,977 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Allstate Corporation (The) (NYSE:ALL): The stock opened at $68.31 on Wednesday but the bulls could not build on the opening and the stock topped out at $68.45 for the day. The stock traded down to $68.16 during the day, due to lack of any buying support eventually closed down at $68.26 with a loss of -0.15% for the day. The stock had closed at $68.36 on the previous day. The total traded volume was 1,004,507 shares.
In a related news, The officer (EVP & Chief Financial Officer), of Allstate Corp, Shebik Steven E had unloaded 41,334 shares at $68.86 per share in a transaction on August 8, 2016. The total value of transaction was $2,846,259. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business. It offers its products in the United States and Canada. Allstate operates in four business segments: Allstate Protection, Discontinued Lines and Coverages, Allstate Financial, and Corporate and Other. The principal geographic markets for its auto, homeowners, and other personal property and casualty products are in the United States. Through its subsidiaries, it sells various types of personal property and casualty insurance products in around 50 states, the District of Columbia and Puerto Rico. It sells private passenger auto and homeowners insurance through agencies, contact centers and Internet. It sells these products under Allstate, Esurance and Encompass brand names.