Allstate (NYSE:ALL) Reaches New 12-Month High – Time to Buy?

The Allstate Corporation (NYSE:ALL)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $250.38 and last traded at $248.3440, with a volume of 1541800 shares trading hands. The stock had previously closed at $250.33.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. Barclays increased their price target on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a report on Wednesday, April 8th. Mizuho decreased their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and upped their target price for the stock from $244.00 to $264.00 in a research report on Monday. Wells Fargo & Company increased their target price on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.89.

Allstate Stock Down 0.9%

The company has a market cap of $63.85 billion, a price-to-earnings ratio of 5.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s fifty day moving average is $220.59 and its two-hundred day moving average is $211.53.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.53 EPS. Sell-side analysts predict that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Activity at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was 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 this link. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last 90 days. Insiders own 1.55% of the company’s stock.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently made changes to their positions in ALL. MV Capital Management Inc. bought a new position in shares of Allstate during the fourth quarter valued at about $25,000. Dorato Capital Management bought a new stake in Allstate in the 4th quarter worth about $27,000. Navalign LLC bought a new stake in Allstate in the 4th quarter worth about $27,000. Evolution Wealth Management Inc. increased its stake in Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Allstate in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.