Allstate (NYSE:ALL) Reaches New 1-Year High – Here’s What Happened

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

Analyst Ratings Changes

ALL has been the subject of a number of research reports. Mizuho decreased their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company boosted their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $240.33.

Allstate Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average of $216.91 and a 200 day moving average of $209.68. The stock has a market capitalization of $60.23 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.41 and a beta of 0.18.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $3.53 earnings per share. Equities analysts predict that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Announces Dividend

The company also recently announced 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 1.8%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s payout ratio is presently 9.53%.

Insiders Place Their Bets

In other news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALL. MV Capital Management Inc. bought a new stake in shares of Allstate during the fourth quarter valued at about $25,000. Dorato Capital Management acquired a new position in Allstate during the 4th quarter valued at about $27,000. Navalign LLC bought a new stake in shares of Allstate during the 4th quarter worth about $27,000. Evolution Wealth Management Inc. raised its position in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Allstate in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds 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.