Allstate (NYSE:ALL) Sets New 1-Year High – Still a Buy?

Shares of The Allstate Corporation (NYSE:ALL) hit a new 52-week high on Friday . The company traded as high as $258.37 and last traded at $259.2760, with a volume of 132443 shares traded. The stock had previously closed at $254.52.

Wall Street Analyst Weigh In

ALL has been the subject of several research reports. Citigroup increased their target price on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Raymond James Financial upped their price objective on Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and raised their price objective for the company from $244.00 to $264.00 in a report on Monday, July 6th. Finally, Mizuho lifted their target price on shares of Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Allstate Trading Up 2.2%

The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $66.97 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.45 and a beta of 0.16. The firm has a 50 day moving average price of $231.16 and a two-hundred day moving average price of $216.00.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the firm earned $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that The Allstate Corporation will post 30.51 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is 9.53%.

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,353 shares of company stock worth $4,851,560. Company insiders own 1.55% of the company’s stock.

Institutional Trading of Allstate

Large investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Allstate in the fourth quarter valued at approximately $531,294,000. GQG Partners LLC grew its holdings in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. grew its holdings in Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after buying an additional 822,583 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in Allstate in the 3rd quarter valued at $148,641,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

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.