Allstate (NYSE:ALL) Sets New 12-Month High Following Dividend Announcement

Allstate Corp (NYSE:ALL) shares reached a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $111.41 and last traded at $111.33, with a volume of 46413 shares. The stock had previously closed at $111.10.

The newly announced dividend which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.80%. Allstate’s dividend payout ratio is currently 24.78%.

Several equities analysts have recently weighed in on the company. Wells Fargo & Co raised their price target on Allstate from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Morgan Stanley raised their price target on Allstate from $110.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. ValuEngine downgraded Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Barclays raised their price target on Allstate from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Evercore ISI assumed coverage on Allstate in a report on Thursday, October 17th. They set an “in-line” rating and a $117.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Allstate currently has a consensus rating of “Hold” and a consensus target price of $111.46.

The firm has a fifty day moving average of $107.96 and a 200 day moving average of $103.42. The company has a market capitalization of $35.99 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.33 and a beta of 0.81. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.29.

Allstate (NYSE:ALL) last released its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.52 by $0.32. Allstate had a return on equity of 13.83% and a net margin of 6.57%. The company had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $9.07 billion. During the same period last year, the company earned $1.93 EPS. Sell-side analysts anticipate that Allstate Corp will post 10.04 EPS for the current fiscal year.

In related news, EVP Susan L. Lees sold 27,650 shares of Allstate stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $108.30, for a total value of $2,994,495.00. Following the completion of the sale, the executive vice president now directly owns 53,165 shares in the company, valued at approximately $5,757,769.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Enlightenment Research LLC bought a new stake in Allstate in the 2nd quarter worth about $213,000. Clearstead Advisors LLC grew its stake in shares of Allstate by 34.3% during the 2nd quarter. Clearstead Advisors LLC now owns 6,970 shares of the insurance provider’s stock valued at $709,000 after purchasing an additional 1,782 shares during the period. Orrstown Financial Services Inc. grew its stake in shares of Allstate by 1.1% during the 2nd quarter. Orrstown Financial Services Inc. now owns 10,417 shares of the insurance provider’s stock valued at $1,059,000 after purchasing an additional 116 shares during the period. CIBC Asset Management Inc grew its stake in shares of Allstate by 1.5% during the 2nd quarter. CIBC Asset Management Inc now owns 37,157 shares of the insurance provider’s stock valued at $3,778,000 after purchasing an additional 549 shares during the period. Finally, NN Investment Partners Holdings N.V. grew its stake in shares of Allstate by 6.7% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 56,578 shares of the insurance provider’s stock valued at $5,754,000 after purchasing an additional 3,574 shares during the period. Institutional investors own 77.19% of the company’s stock.

Allstate Company Profile (NYSE:ALL)

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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