Allstate (ALL) Sets New 52-Week High at $104.30
Allstate Corp (NYSE:ALL) shares hit 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 trading hands. The stock had previously closed at $103.32.
A number of research analysts have recently issued reports on the company. Wells Fargo & Company reissued a “buy” rating and issued a $105.00 price objective on shares of Allstate in a research note on Thursday, November 2nd. Credit Suisse Group boosted their price objective on Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. UBS dropped their price target on Allstate from $94.00 to $93.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 19th. Buckingham Research began coverage on Allstate in a research note on Monday, September 11th. They set an “underperform” rating and a $74.00 price target on the stock. Finally, Goldman Sachs Group began coverage on Allstate in a research note on Monday, December 4th. They set a “neutral” rating and a $104.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $96.50.
The company has a market cap of $37,410.00, a price-to-earnings ratio of 15.22, a PEG ratio of 1.99 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 released its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01). Allstate had a net margin of 7.32% and a return on equity of 13.11%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. sell-side analysts anticipate that Allstate Corp will post 6.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.48 annualized dividend and a yield of 1.44%. Allstate’s payout ratio is 20.56%.
In other Allstate news, insider Suren Gupta sold 103,242 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $98.68, for a total transaction of $10,187,920.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Thomas J. Wilson sold 195,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $99.13, for a total value of $19,330,350.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 432,242 shares of company stock worth $42,827,931. 1.58% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of ALL. First Trust Advisors LP increased its stake in Allstate by 2.8% in the second quarter. First Trust Advisors LP now owns 208,353 shares of the insurance provider’s stock valued at $18,427,000 after acquiring an additional 5,761 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Allstate by 9.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 602,564 shares of the insurance provider’s stock valued at $53,221,000 after acquiring an additional 53,347 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Allstate by 1.2% during the second quarter. Teacher Retirement System of Texas now owns 443,832 shares of the insurance provider’s stock valued at $39,253,000 after buying an additional 5,090 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Allstate by 2.4% during the second quarter. Sigma Planning Corp now owns 5,276 shares of the insurance provider’s stock valued at $467,000 after buying an additional 124 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of Allstate during the second quarter valued at about $243,000. Hedge funds and other institutional investors own 76.65% of the company’s stock.
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Allstate Company Profile
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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