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

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

Wall Street Analyst Weigh In

ALL has been the subject of several recent research reports. Piper Sandler upped their target price on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and upped their target price for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. The Goldman Sachs Group upped their target price on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley upped their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50 day moving average is $164.50 and its two-hundred day moving average is $148.42.

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

Allstate Increases Dividend

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

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares in the last quarter. Norges Bank acquired a new stake in shares of Allstate during the 4th quarter worth approximately $212,771,000. Invesco Ltd. boosted its position in shares of Allstate by 46.6% during the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after acquiring an additional 1,311,095 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Allstate by 23.0% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock worth $466,163,000 after acquiring an additional 782,696 shares in the last quarter. Finally, Palestra Capital Management LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $83,561,000. 76.47% of the stock is owned by institutional investors.

About Allstate

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.