Allstate (NYSE:ALL) Trading Down 4.5% - What's Next?

The Allstate Co. (NYSE:ALL - Get Free Report)'s stock price dropped 4.5% during mid-day trading on Monday . The company traded as low as $198.63 and last traded at $197.65. Approximately 279,119 shares traded hands during trading, a decline of 83% from the average daily volume of 1,603,602 shares. The stock had previously closed at $207.06.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALL. Keefe, Bruyette & Woods increased their price objective on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley upped their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Raymond James reissued a "strong-buy" rating and issued a $250.00 price target (up from $240.00) on shares of Allstate in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Price Performance

The firm has a market capitalization of $52.94 billion, a P/E ratio of 11.77, a PEG ratio of 1.01 and a beta of 0.35. 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 business's 50-day simple moving average is $199.59 and its 200 day simple moving average is $197.12.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business 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 EPS. Allstate's revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Allstate declared that its board has initiated a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of Allstate

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC raised its holdings in Allstate by 10.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock valued at $98,065,000 after buying an additional 48,382 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Allstate by 56.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock valued at $36,012,000 after acquiring an additional 67,032 shares during the period. CIBC Asset Management Inc raised its stake in shares of Allstate by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider's stock valued at $7,823,000 after acquiring an additional 1,828 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock worth $66,489,000 after purchasing an additional 5,786 shares during the period. Finally, Blackstone Inc. bought a new stake in shares of Allstate in the fourth quarter worth about $52,053,000. 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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