Allstate (NYSE:ALL) Sets New 1-Year High – Time to Buy?

The Allstate Corporation (NYSE:ALL)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $228.85 and last traded at $228.8690, with a volume of 242682 shares trading hands. The stock had previously closed at $222.56.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALL. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Mizuho decreased their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a research report on Thursday. The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $240.33.

Allstate Trading Up 3.3%

The business’s 50-day simple moving average is $216.11 and its two-hundred day simple moving average is $209.32. The firm has a market capitalization of $59.20 billion, a price-to-earnings ratio of 5.07, a PEG ratio of 0.39 and a beta of 0.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.53 EPS. Equities analysts forecast that The Allstate Corporation will post 29.55 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio is 9.53%.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,353 shares of company stock worth $4,851,560 over the last ninety days. Company insiders own 1.55% of the company’s stock.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MV Capital Management Inc. purchased a new position in shares of Allstate in the fourth quarter valued at approximately $25,000. Navalign LLC purchased a new stake in Allstate during the 4th quarter worth approximately $27,000. Dorato Capital Management acquired a new stake in Allstate during the 4th quarter worth approximately $27,000. Evolution Wealth Management Inc. boosted its position in Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares during the period. Finally, Palisade Asset Management LLC purchased a new position in Allstate in the 3rd quarter valued at approximately $31,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.