Allstate (ALL) Hits New 52-Week High at $104.30
Allstate Corp (NYSE:ALL) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $104.30 and last traded at $102.65, with a volume of 1467800 shares changing hands. The stock had previously closed at $103.32.
A number of research analysts have issued reports on ALL shares. Buckingham Research started coverage on Allstate in a research note on Monday, September 11th. They issued an “underperform” rating and a $74.00 target price for the company. UBS decreased their target price on Allstate from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Citigroup decreased their target price on Allstate from $107.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. Zacks Investment Research cut Allstate from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Wells Fargo & Company set a $105.00 target price on Allstate and gave the company a “buy” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Allstate presently has a consensus rating of “Hold” and a consensus price target of $96.50.
The stock has a market capitalization of $37,307.14, a price-to-earnings ratio of 15.31, a P/E/G ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. analysts forecast that Allstate Corp will post 6.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.42%. Allstate’s dividend payout ratio (DPR) is 20.56%.
In other news, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $98.68, for a total value of $10,187,920.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Susan L. Lees sold 4,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the sale, the executive vice president now owns 24,341 shares in the company, valued at approximately $2,446,027.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,242 shares of company stock worth $42,827,931. Corporate insiders own 1.58% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its holdings in Allstate by 3.1% during the third quarter. Canada Pension Plan Investment Board now owns 491,833 shares of the insurance provider’s stock worth $45,204,000 after acquiring an additional 14,700 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Allstate during the second quarter worth about $1,671,000. State of Tennessee Treasury Department raised its holdings in Allstate by 16.7% during the second quarter. State of Tennessee Treasury Department now owns 593,694 shares of the insurance provider’s stock worth $52,506,000 after acquiring an additional 85,026 shares in the last quarter. Aperio Group LLC raised its holdings in Allstate by 16.4% during the third quarter. Aperio Group LLC now owns 410,026 shares of the insurance provider’s stock worth $37,685,000 after acquiring an additional 57,713 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Allstate by 11.1% during the third quarter. Toronto Dominion Bank now owns 137,390 shares of the insurance provider’s stock worth $12,627,000 after acquiring an additional 13,713 shares in the last quarter. Institutional investors and hedge funds own 76.65% of the company’s stock.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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