Allstate (NYSE:ALL) Reaches New 1-Year High After Analyst Upgrade

Shares of The Allstate Co. (NYSE:ALLGet Free Report) reached a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $172.00 to $188.00. Piper Sandler currently has an overweight rating on the stock. Allstate traded as high as $173.86 and last traded at $173.86, with a volume of 2272 shares trading hands. The stock had previously closed at $173.01.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group upped their price objective 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. TD Cowen assumed coverage on shares of Allstate in a research report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective for the company. Raymond James upped their price objective on shares of Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday, January 22nd. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Allstate from $164.00 to $172.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $168.69.

Read Our Latest Stock Analysis on ALL

Insider Transactions at Allstate

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 completion of the sale, the insider now 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 accessible through this link. 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 completion of the sale, the insider now 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 accessible through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the 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 sale, 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. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Allstate

Several hedge funds have recently modified their holdings of ALL. Vanguard Group Inc. grew its stake in shares of Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Allstate by 123.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after purchasing an additional 3,064,105 shares during the last quarter. Cowa LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $30,000. Norges Bank bought a new position in Allstate in the fourth quarter valued at approximately $212,771,000. Finally, Invesco Ltd. boosted its stake in Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after acquiring an additional 1,311,095 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Down 0.0 %

The stock has a market capitalization of $45.39 billion, a P/E ratio of -139.15, a PEG ratio of 0.45 and a beta of 0.52. 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 business’s 50 day simple moving average is $160.59 and its 200-day simple moving average is $141.95.

Allstate (NYSE:ALLGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same period last year, the firm earned ($1.36) earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts forecast that The Allstate Co. will post 13.25 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date 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 yield of 2.13%. Allstate’s dividend payout ratio (DPR) is presently -296.77%.

About Allstate

(Get Free Report)

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.

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