Allstate (NYSE:ALL) Trading Down 2.6% - Here's What Happened

Shares of The Allstate Corporation (NYSE:ALL - Get Free Report) fell 2.6% during mid-day trading on Wednesday . The company traded as low as $194.00 and last traded at $193.00. 418,709 shares traded hands during trading, a decline of 74% from the average session volume of 1,603,300 shares. The stock had previously closed at $198.19.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALL shares. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. William Blair started coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $225.20.

Allstate Trading Down 1.4%

The firm has a market capitalization of $51.77 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The firm's 50-day simple moving average is $200.62 and its 200-day simple moving average is $196.81.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the previous year, the firm earned $5.13 EPS. The company's revenue was up 7.8% on a year-over-year basis. Analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.05%. Allstate's dividend payout ratio is 27.32%.

Allstate declared that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Allstate

Several institutional investors have recently bought and sold shares of ALL. VSM Wealth Advisory LLC bought a new stake in Allstate during the 4th quarter valued at about $25,000. Twin Tree Management LP bought a new stake in Allstate during the 4th quarter valued at about $27,000. Hughes Financial Services LLC bought a new stake in Allstate during the 1st quarter valued at about $28,000. Vision Financial Markets LLC bought a new stake in Allstate during the 4th quarter valued at about $29,000. Finally, Hopwood Financial Services Inc. bought a new stake in Allstate during the 4th quarter valued at about $29,000. Institutional investors own 76.47% of the company's stock.

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.

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