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Top Buys by Directors: Redmond's $126.4K Bet on ALL

By Dividend Channel Staff, Friday, March 2, 12:59 PM ET
Play Video: One Reason For Insiders to Buy

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The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $126.4K by Andrea Redmond, Director at Allstate Corp. (NYSE:ALL).

Redmond bets big on ALL:

Purchased Insider Title Shares Price/Share Value
02/29/2012 Andrea Redmond Director 4,000 $31.61 $126,440.00

Redmond's average cost works out to $31.61/share. In trading on Friday, bargain hunters could buy shares of Allstate Corp. (NYSE:ALL) and achieve a cost basis lower than Redmond, with shares changing hands as low as $31.06 per share. It should be noted that Redmond has collected $0.22/share in dividends since the time of their purchase, so they are currently down 1.0% on their purchase from a total return basis. Shares of Allstate Corp. were changing hands at $31.19 at last check, trading down about 0.3% on Friday. The chart below shows the one year performance of ALL shares, versus its 200 day moving average:

Allstate Corp. Chart

Looking at the chart above, ALL's low point in its 52 week range is $22.27 per share, with $34.40 as the 52 week high point that compares with a last trade of $31.19.

The current annualized dividend paid by Allstate Corp. is $0.88/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 03/01/2012. Below is a long-term dividend history chart for ALL, which can be of good help in judging whether the most recent dividend with approx. 2.8% annualized yield is likely to continue.

ALL makes up 5.33% of the Dynamic Insurance Portfolio ETF (PIC)


The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.

This Article's Word Cloud:   Allstate   Andrea   Corp   Director   Friday   Insider   NYSE   Portfolio   Redmond   Shares   annualized   asset   average   basis   buys   cash   changing   chart   company   cost   currently   designed   directors   dividend   down   escape   fillColor   hands   investors   last   make   maybe   most   paid   performance   period   point   portfolio   purchase   recent   share   shares   stock   take   that   their   they   this   total   with

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