Allstate (NYSE:ALL) Sets New 1-Year High - Here's What Happened

Key Points

• Allstate's shares reached a new 52-week high of $215.66, with the last trade at $214.40, driven by a trading volume of 133,813 shares.
• Several analysts have recently upgraded their price targets for Allstate, with the average target now at $231.38 and a consensus rating of "Moderate Buy."
• Allstate reported a quarterly EPS of $5.94, significantly surpassing analyst estimates of $3.20, alongside a revenue of $15.05 billion for the quarter.

The Allstate Corporation (NYSE:ALL - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $215.66 and last traded at $214.40, with a volume of 133813 shares traded. The stock had previously closed at $211.28.

Wall Street Analyst Weigh In

ALL has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. William Blair began coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating for the company. Jefferies Financial Group upped their price objective on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, Wolfe Research upgraded Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $231.38.

Allstate Stock Performance

The company has a market cap of $56.37 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 0.84 and a beta of 0.37. The stock has a 50 day moving average price of $203.49 and a two-hundred day moving average price of $200.85. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 EPS. On average, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's payout ratio is 18.81%.

Institutional Investors Weigh In On Allstate

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider's stock valued at $6,690,584,000 after acquiring an additional 435,145 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares in the last quarter. Geode Capital Management LLC lifted its position in Allstate by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider's stock worth $1,345,961,000 after purchasing an additional 79,366 shares during the period. Franklin Resources Inc. grew its stake in Allstate by 2.5% during the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider's stock worth $940,140,000 after buying an additional 112,858 shares in the last quarter. Finally, GQG Partners LLC raised its position in shares of Allstate by 2.1% in the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock valued at $912,288,000 after buying an additional 89,185 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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