Allstate (NYSE:ALL) Hits New 1-Year High – Should You Buy?

The Allstate Corporation (NYSE:ALL)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $222.33 and last traded at $221.6350, with a volume of 890784 shares trading hands. The stock had previously closed at $217.37.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALL. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 price objective on shares of Allstate in a research report on Thursday, March 5th. Citigroup lifted their price objective on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Trading Up 1.8%

The firm has a market cap of $56.96 billion, a price-to-earnings ratio of 4.88, a P/E/G ratio of 0.39 and a beta of 0.21. The firm’s 50-day moving average is $211.19 and its 200-day moving average is $207.17. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the firm posted $3.53 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that The Allstate Corporation will post 29.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALL. State Street Corp grew its holdings in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after acquiring an additional 438,034 shares in the last quarter. GQG Partners LLC lifted its holdings in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after acquiring an additional 1,452,993 shares during the period. Franklin Resources Inc. lifted its holdings in Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after acquiring an additional 1,131,172 shares during the period. Boston Partners boosted its position in Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after purchasing an additional 395,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Allstate by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock valued at $581,515,000 after purchasing an additional 154,259 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.