Allstate (NYSE:ALL) Sets New 52-Week High at $109.25
Allstate Corp (NYSE:ALL) hit a new 52-week high on Friday . The company traded as high as $109.25 and last traded at $108.67, with a volume of 1746 shares traded. The stock had previously closed at $108.36.
ALL has been the topic of several recent analyst reports. Barclays set a $125.00 price objective on shares of Allstate and gave the stock a “buy” rating in a research note on Monday, August 12th. Raymond James raised their price objective on shares of Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. Goldman Sachs Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $106.00 to $110.00 in a report on Wednesday, May 29th. Buckingham Research lifted their target price on shares of Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Credit Suisse Group downgraded shares of Allstate from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $100.00 to $94.00 in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Allstate has an average rating of “Hold” and a consensus target price of $107.92.
The business’s 50-day moving average price is $104.13 and its 200 day moving average price is $99.63. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $35.53 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.36 and a beta of 0.82.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 annualized dividend and a yield of 1.85%. Allstate’s payout ratio is presently 24.78%.
In other Allstate news, EVP Susan L. Lees sold 30,189 shares of Allstate stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $102.26, for a total transaction of $3,087,127.14. Following the completion of the sale, the executive vice president now directly owns 62,854 shares in the company, valued at $6,427,450.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Glenn T. Shapiro sold 22,289 shares of Allstate stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the sale, the insider now owns 25,584 shares of the company’s stock, valued at $2,615,196.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,611 shares of company stock valued at $12,843,595. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ALL. BlackRock Inc. lifted its holdings in shares of Allstate by 0.4% in the 2nd quarter. BlackRock Inc. now owns 26,305,632 shares of the insurance provider’s stock worth $2,675,022,000 after acquiring an additional 109,997 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Allstate by 0.9% in the second quarter. Vanguard Group Inc. now owns 24,689,491 shares of the insurance provider’s stock worth $2,510,675,000 after acquiring an additional 228,584 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Allstate by 2.9% in the second quarter. AQR Capital Management LLC now owns 6,372,559 shares of the insurance provider’s stock worth $643,628,000 after acquiring an additional 178,988 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Allstate by 12.6% during the second quarter. Invesco Ltd. now owns 4,342,920 shares of the insurance provider’s stock worth $441,631,000 after purchasing an additional 486,897 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Allstate by 9.9% during the second quarter. Victory Capital Management Inc. now owns 2,872,434 shares of the insurance provider’s stock worth $292,097,000 after purchasing an additional 258,271 shares during the period. Institutional investors and hedge funds own 76.83% of the company’s stock.
About Allstate (NYSE:ALL)
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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