Allstate (NYSE:ALL) Reaches New 12-Month High – Time to Buy?

Shares of The Allstate Corporation (NYSE:ALL) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $250.38 and last traded at $248.3440, with a volume of 1541800 shares trading hands. The stock had previously closed at $250.33.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Morgan Stanley raised their target price on Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday. Citigroup lifted their target price on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.89.

Allstate Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s 50 day moving average price is $220.59 and its 200 day moving average price is $211.53. The company has a market capitalization of $63.85 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.53 earnings per share. As a group, equities analysts expect that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a $1.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is 9.53%.

Insider Activity

In related news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was 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 $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last ninety days. 1.55% of the stock is owned by company insiders.

Institutional Trading of Allstate

Several hedge funds have recently modified their holdings of ALL. MV Capital Management Inc. acquired a new stake in Allstate in the fourth quarter worth $25,000. Dorato Capital Management acquired a new position in shares of Allstate during the fourth quarter valued at about $27,000. Navalign LLC acquired a new position in shares of Allstate during the fourth quarter valued at about $27,000. Evolution Wealth Management Inc. boosted its position in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Allstate during the 1st quarter worth about $30,000. Institutional investors 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.