Allstate (NYSE:ALL) Sets New 52-Week High at $174.63

The Allstate Co. (NYSE:ALL)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $174.63 and last traded at $174.44, with a volume of 435810 shares trading hands. The stock had previously closed at $172.96.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research reports. UBS Group increased their price target on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Piper Sandler increased their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. The Goldman Sachs Group upped their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and upped their price objective for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Finally, Roth Mkm upped their price objective on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

Allstate Price Performance

The company’s 50 day moving average is $163.84 and its two-hundred day moving average is $147.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share 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 company had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. During the same quarter last year, the business posted ($1.36) EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts predict that The Allstate Co. will post 13.44 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.92 dividend. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.10%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. Allstate’s payout ratio is currently -296.77%.

Insider Transactions at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’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 transaction, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s 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 transaction, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently made changes to their positions in ALL. Rise Advisors LLC purchased a new stake in Allstate during the first quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate during the first quarter worth $26,000. Private Wealth Management Group LLC purchased a new stake in Allstate during the fourth quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate during the third quarter worth $25,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Allstate during the fourth quarter worth $36,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

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.