Allstate (NYSE:ALL) Sets New 1-Year High - Time to Buy?

The Allstate Co. (NYSE:ALL - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $213.18 and last traded at $208.93, with a volume of 136187 shares changing hands. The stock had previously closed at $212.64.

Wall Street Analyst Weigh In

ALL has been the subject of several research reports. Barclays lowered their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods upped their target price on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley upped their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.20.

Allstate Stock Performance

The business has a 50 day simple moving average of $199.58 and a 200 day simple moving average of $196.97. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $54.81 billion, a PE ratio of 12.18, a PEG ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter in the previous year, the business earned $5.13 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, June 9th. Allstate's payout ratio is 27.32%.

Allstate declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. First Hawaiian Bank purchased a new position in shares of Allstate in the first quarter worth about $476,000. Invst LLC purchased a new position in Allstate during the first quarter valued at approximately $1,202,000. Strs Ohio purchased a new position in Allstate during the first quarter valued at approximately $84,408,000. Intrua Financial LLC raised its position in Allstate by 5.3% during the first quarter. Intrua Financial LLC now owns 1,436 shares of the insurance provider's stock valued at $297,000 after acquiring an additional 72 shares in the last quarter. Finally, Advisors Capital Management LLC purchased a new position in Allstate during the first quarter valued at approximately $301,000. 76.47% of the stock is currently 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.