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


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The Allstate Co. (NYSE:ALL) shares hit a new 52-week high during trading on Monday after Raymond James raised their price target on the stock from $135.00 to $140.00. Raymond James currently has a strong-buy rating on the stock. The Allstate traded as high as $122.81 and last traded at $121.63, with a volume of 3792 shares traded. The stock had previously closed at $122.20.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods downgraded shares of The Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 11th. Barclays increased their price target on The Allstate from $115.00 to $125.00 in a research report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft boosted their price target on The Allstate from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, February 8th. JPMorgan Chase & Co. increased their price objective on The Allstate from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley boosted their price objective on shares of The Allstate from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday, April 16th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The Allstate presently has an average rating of “Buy” and an average price target of $123.20.

A number of hedge funds have recently modified their holdings of the business. United Bank grew its holdings in The Allstate by 10.5% in the 3rd quarter. United Bank now owns 15,202 shares of the insurance provider’s stock valued at $1,431,000 after buying an additional 1,443 shares in the last quarter. Wealth Alliance grew its stake in shares of The Allstate by 14.9% in the third quarter. Wealth Alliance now owns 5,176 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 671 shares in the last quarter. OLD Mission Capital LLC bought a new position in The Allstate during the third quarter worth about $5,666,000. Schonfeld Strategic Advisors LLC raised its stake in The Allstate by 46.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 76,264 shares of the insurance provider’s stock worth $7,180,000 after purchasing an additional 24,057 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in The Allstate by 38.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 9,454 shares of the insurance provider’s stock valued at $890,000 after purchasing an additional 2,629 shares during the period. Hedge funds and other institutional investors own 76.95% of the company’s stock.

The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $115.65 and its 200 day moving average price is $105.60. The company has a market capitalization of $36.90 billion, a P/E ratio of 8.62, a PEG ratio of 1.14 and a beta of 0.81.

The Allstate (NYSE:ALL) last released its earnings results on Tuesday, February 2nd. The insurance provider reported $5.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.81 by $2.06. The firm had revenue of $11.34 billion during the quarter, compared to the consensus estimate of $9.43 billion. The Allstate had a return on equity of 16.70% and a net margin of 10.68%. During the same period in the prior year, the company posted $3.13 EPS. Research analysts predict that The Allstate Co. will post 12.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Thursday, March 4th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, March 3rd. This is a boost from The Allstate’s previous quarterly dividend of $0.54. The Allstate’s payout ratio is currently 31.06%.

About The Allstate (NYSE:ALL)

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Protection Services, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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