Allstate (NYSE:ALL) Reaches New 12-Month High at $185.00

The Allstate Co. (NYSE:ALL) hit a new 52-week high during trading on Monday . The stock traded as high as $185.00 and last traded at $185.00, with a volume of 527 shares. The stock had previously closed at $180.51.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALL shares. Roth Mkm restated a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Wells Fargo & Company cut their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Morgan Stanley lowered their price target on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Bank of America raised their price target on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $191.94.

Allstate Trading Up 1.1 %

The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $168.89 and a two-hundred day moving average of $166.52. The company has a market capitalization of $48.86 billion, a PE ratio of 40.87, a PEG ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($4.42) EPS. As a group, sell-side analysts anticipate that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 1.99%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock valued at $36,122,740 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Large investors have recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Allstate in the 1st quarter worth approximately $25,000. Private Wealth Management Group LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $26,000. Finally, Versant Capital Management Inc boosted its position in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Company Profile

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.