Allstate (NYSE:ALL) Reaches New 1-Year High at $191.56

The Allstate Co. (NYSE:ALL)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $191.56 and last traded at $190.47, with a volume of 756488 shares changing hands. The stock had previously closed at $190.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALL shares. The Goldman Sachs Group increased their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their price target on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, August 5th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Barclays started coverage on shares of Allstate in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Allstate Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50-day simple moving average of $177.68 and a two-hundred day simple moving average of $169.64. The stock has a market cap of $50.41 billion, a price-to-earnings ratio of 42.00, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.42) earnings per share. Equities analysts forecast that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Insider Buying and Selling at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allstate

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Allstate during the fourth quarter valued at about $212,771,000. Palestra Capital Management LLC purchased a new position in Allstate during the fourth quarter valued at $83,561,000. Balyasny Asset Management L.P. purchased a new stake in shares of Allstate during the fourth quarter valued at approximately $81,571,000. Artemis Investment Management LLP bought a new stake in shares of Allstate in the 1st quarter worth $95,764,000. Finally, AQR Capital Management LLC raised its position in Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

About Allstate

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.