Allstate (NYSE:ALL) Sets New 1-Year High at $191.56

The Allstate Co. (NYSE:ALL) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $191.56 and last traded at $190.47, with a volume of 756488 shares changing hands. The stock had previously closed at $190.26.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALL shares. Bank of America upped their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. Morgan Stanley cut their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Finally, TD Cowen boosted their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Allstate Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The company’s 50 day moving average is $177.68 and its 200 day moving average is $169.64. The stock has a market cap of $50.41 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.42) earnings per share. Research analysts forecast that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Insider Buying and Selling at Allstate

In related news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Allstate news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,938 shares of company stock worth $36,122,740. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Allstate during the fourth quarter worth about $212,771,000. Palestra Capital Management LLC purchased a new position in Allstate in the fourth quarter valued at approximately $83,561,000. Balyasny Asset Management L.P. acquired a new position in Allstate during the fourth quarter valued at approximately $81,571,000. Artemis Investment Management LLP purchased a new stake in Allstate during the first quarter worth approximately $95,764,000. Finally, AQR Capital Management LLC raised its stake in shares of Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after acquiring an additional 464,337 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.