Allstate (NYSE:ALL) Hits New 1-Year High Following Earnings Beat

The Allstate Co. (NYSE:ALL) shares reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $177.37 and last traded at $172.88, with a volume of 354377 shares traded. The stock had previously closed at $171.56.

The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 15.14% and a net margin of 2.31%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.30) earnings per share.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.19%. 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 (DPR) is currently 81.24%.

Wall Street Analyst Weigh In

ALL has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and lifted their price objective for the company from $158.00 to $190.00 in a report on Thursday, March 28th. Morgan Stanley boosted their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group lifted their price target on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.18.

Insider Buying and Selling

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

Hedge Funds Weigh In On Allstate

Several institutional investors and hedge funds have recently modified their holdings of the business. Confluence Wealth Services Inc. boosted its stake in shares of Allstate by 0.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock worth $1,306,000 after buying an additional 65 shares during the last quarter. Gradient Investments LLC grew its stake in Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after purchasing an additional 66 shares during the period. Brighton Jones LLC grew its stake in Allstate by 1.9% in the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 71 shares during the period. SVB Wealth LLC increased its position in shares of Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after purchasing an additional 72 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its stake in shares of Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after purchasing an additional 82 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Down 0.6 %

The company has a market capitalization of $44.24 billion, a PE ratio of 37.13, a P/E/G ratio of 0.41 and a beta of 0.51. The stock’s fifty day moving average is $165.88 and its two-hundred day moving average is $150.65. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

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.