Allstate (NYSE:ALL) Reaches New 1-Year High at $174.63

The Allstate Co. (NYSE:ALL)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $174.63 and last traded at $174.44, with a volume of 435810 shares changing hands. The stock had previously closed at $172.96.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALL. HSBC raised Allstate from a “hold” rating to a “buy” rating and boosted their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $180.00 in a research note on Tuesday, January 9th. Piper Sandler upped their target price on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. TheStreet raised Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Finally, Evercore ISI upped their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $173.71.

Allstate Price Performance

The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $164.50 and a 200-day simple moving average of $148.42.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned ($1.36) EPS. As a group, equities analysts expect that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.10%. Allstate’s dividend payout ratio is currently -296.77%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Hedge funds have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Allstate in the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Allstate in the 1st quarter valued at about $25,000. Private Wealth Management Group LLC acquired a new stake in Allstate in the 4th quarter valued at about $25,000. Rise Advisors LLC acquired a new stake in Allstate in the 1st quarter valued at about $26,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Allstate in the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.