Allstate Corp. (ALL) Hits New 12-Month High at $70.12
Allstate Corp. (NYSE:ALL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $70.12 and last traded at $70.04, with a volume of 737,687 shares trading hands. The stock had previously closed at $69.66.
A number of brokerages have recently issued reports on ALL. Janney Montgomery Scott reissued a “buy” rating on shares of Allstate Corp. in a research report on Sunday, May 22nd. Morgan Stanley reaffirmed a “hold” rating on shares of Allstate Corp. in a research report on Thursday, May 5th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Allstate Corp. in a research report on Tuesday, April 12th. Deutsche Bank AG reaffirmed a “buy” rating and set a $79.00 price objective (up previously from $71.00) on shares of Allstate Corp. in a research report on Tuesday, May 10th. Finally, Macquarie reaffirmed an “outperform” rating and set a $78.00 price objective on shares of Allstate Corp. in a research report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 70.71 ($0.92).
The stock has a market capitalization of $26.19 billion and a P/E ratio of 17.08. The stock’s 50-day moving average is $67.58 and its 200-day moving average is $64.99.
Allstate Corp. (NYSE:ALL) last issued its earnings results on Wednesday, May 4th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $1.45 by $0.61. During the same period in the prior year, the company posted $1.46 EPS. The business earned $7.72 billion during the quarter, compared to analyst estimates of $7.61 billion. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts expect that Allstate Corp. will post $4.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.89%. This is an increase from Allstate Corp.’s previous quarterly dividend of $0.30.
In other news, Director Judith A. Sprieser sold 4,000 shares of Allstate Corp. stock in a transaction dated Friday, May 6th. The stock was sold at an average price of GBX 66.92 ($0.87), for a total transaction of £2,676.80 ($3,472.31). Following the completion of the sale, the director now owns 5,244 shares in the company, valued at approximately £3,509.28 ($4,552.19). The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Don Civgin sold 214,412 shares of Allstate Corp. stock in a transaction dated Friday, May 6th. The shares were sold at an average price of GBX 66.92 ($0.87), for a total value of £143,484.51 ($186,125.97). Following the sale, the insider now owns 167,147 shares of the company’s stock, valued at approximately £111,854.77 ($145,096.35). The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of the stock. Commerzbank Aktiengesellschaft FI increased its stake in shares of Allstate Corp. by 104.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 29,078 shares of the company’s stock worth $1,805,000 after buying an additional 14,878 shares during the period. ProShare Advisors LLC increased its stake in shares of Allstate Corp. by 2.4% in the fourth quarter. ProShare Advisors LLC now owns 144,082 shares of the company’s stock worth $8,946,000 after buying an additional 3,349 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Allstate Corp. by 3.6% in the fourth quarter. OppenheimerFunds Inc. now owns 1,210,760 shares of the company’s stock worth $75,200,000 after buying an additional 41,790 shares during the period. Bank of Hawaii increased its stake in shares of Allstate Corp. by 2.1% in the fourth quarter. Bank of Hawaii now owns 30,302 shares of the company’s stock worth $1,881,000 after buying an additional 629 shares during the period. Finally, Pzena Investment Management LLC increased its stake in shares of Allstate Corp. by 19.3% in the fourth quarter. Pzena Investment Management LLC now owns 1,224,908 shares of the company’s stock worth $76,055,000 after buying an additional 197,821 shares during the period.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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