Allstate (NYSE:ALL) Sets New 1-Year High After Analyst Upgrade

The Allstate Co. (NYSE:ALL) reached a new 52-week high during trading on Wednesday after Piper Sandler raised their price target on the stock from $206.00 to $244.00. Piper Sandler currently has an overweight rating on the stock. Allstate traded as high as $208.85 and last traded at $207.99, with a volume of 43324 shares changing hands. The stock had previously closed at $207.87.

ALL has been the topic of a number of other reports. Barclays upped their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their target price on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price target on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods increased their price objective on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their target price on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.19.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Allstate

Several institutional investors have recently bought and sold shares of the stock. SPC Financial Inc. lifted its position in Allstate by 3.6% in the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after buying an additional 54 shares during the period. Abacus Planning Group Inc. grew its holdings in Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after acquiring an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Allstate by 1.3% in the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after acquiring an additional 59 shares during the period. Finally, Carmichael Hill & Associates Inc. grew its stake in shares of Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 60 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Up 0.6 %

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a market cap of $55.36 billion, a PE ratio of 13.46, a PEG ratio of 1.80 and a beta of 0.48. The firm has a fifty day simple moving average of $191.99 and a two-hundred day simple moving average of $178.36.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts forecast that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.76%. Allstate’s payout ratio is 23.83%.

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.