Allstate (NYSE:ALL) Hits New 1-Year High – What’s Next?

The Allstate Corporation (NYSE:ALL) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $241.59 and last traded at $241.1420, with a volume of 123954 shares changing hands. The stock had previously closed at $239.61.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods downgraded shares of Allstate from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $266.00 to $242.00 in a research note on Monday, June 8th. Mizuho dropped their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Finally, 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 report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $240.33.

Allstate Trading Up 0.2%

The business has a 50-day moving average price of $217.68 and a two-hundred day moving average price of $210.17. The stock has a market capitalization of $61.80 billion, a P/E ratio of 5.29, a P/E/G ratio of 0.42 and a beta of 0.19. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping 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%.Allstate’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $3.53 earnings per share. On average, analysts expect that The Allstate Corporation will post 29.75 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed 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 is Monday, June 1st. Allstate’s dividend payout ratio is presently 9.53%.

Insider Activity

In related news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

A number of large investors have recently modified their holdings of the business. South Plains Financial Inc. increased its stake in shares of Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Allstate by 0.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after buying an additional 50 shares in the last quarter. Compound Planning Inc. boosted its stake in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after buying an additional 50 shares in the last quarter. Humankind Investments LLC grew its position in Allstate by 4.5% in the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after acquiring an additional 51 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after acquiring an additional 52 shares in the last quarter. 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.