Allstate (NYSE:ALL) Hits New 52-Week High – Still a Buy?

The Allstate Co. (NYSE:ALL) shares reached a new 52-week high during trading on Thursday . The company traded as high as $201.21 and last traded at $201.19, with a volume of 571711 shares. The stock had previously closed at $197.29.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James raised their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Roth Mkm reissued a “buy” rating and set a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. UBS Group upped their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Barclays increased their price target on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Finally, Piper Sandler lifted their target price on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

Allstate Stock Up 3.1 %

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $190.76 and its 200 day moving average price is $177.36. The firm has a market cap of $53.88 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. As a group, research analysts expect that The Allstate Co. will post 16.01 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Trading of Allstate

Several large investors have recently made changes to their positions in the stock. Tudor Financial Inc. acquired a new position in shares of Allstate in the 3rd quarter worth approximately $2,836,000. Virtu Financial LLC grew its holdings in shares of Allstate by 104.2% in the 3rd quarter. Virtu Financial LLC now owns 5,728 shares of the insurance provider’s stock worth $1,086,000 after purchasing an additional 2,923 shares during the last quarter. McIlrath & Eck LLC boosted its position in Allstate by 22.8% in the third quarter. McIlrath & Eck LLC now owns 742 shares of the insurance provider’s stock valued at $141,000 after buying an additional 138 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in Allstate by 6.4% during the third quarter. Rehmann Capital Advisory Group now owns 1,582 shares of the insurance provider’s stock worth $300,000 after buying an additional 95 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Allstate by 1.4% during the third quarter. Toronto Dominion Bank now owns 130,898 shares of the insurance provider’s stock worth $24,825,000 after buying an additional 1,787 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

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.