Allstate (NYSE:ALL) Hits New 52-Week High Following Analyst Upgrade

The Allstate Co. (NYSE:ALLGet Free Report)’s share price reached a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $172.00 to $188.00. Piper Sandler currently has an overweight rating on the stock. Allstate traded as high as $173.86 and last traded at $173.86, with a volume of 2272 shares changing hands. The stock had previously closed at $173.01.

A number of other equities research analysts also recently issued reports on the company. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and boosted their price target for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. UBS Group lifted their price target on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods upped their price target on Allstate from $171.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. TD Cowen initiated coverage on Allstate in a research report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $168.69.

Check Out Our Latest Stock Report on Allstate

Insider Buying and Selling at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Trading of Allstate

Several institutional investors have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate in the third quarter worth $25,000. Private Wealth Management Group LLC bought a new stake in Allstate during the 4th quarter valued at about $25,000. First Capital Advisors Group LLC. purchased a new stake in Allstate in the 2nd quarter valued at about $29,000. Cowa LLC purchased a new position in shares of Allstate during the first quarter worth approximately $30,000. Finally, Garner Asset Management Corp purchased a new position in shares of Allstate during the fourth quarter worth approximately $31,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.0 %

The stock has a market cap of $45.39 billion, a P/E ratio of -139.15, a P/E/G ratio of 0.45 and a beta of 0.52. The company’s 50 day moving average price is $160.59 and its two-hundred day moving average price is $141.95. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALLGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The firm had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned ($1.36) earnings per share. As a group, research analysts expect that The Allstate Co. will post 13.25 earnings per share for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is -296.77%.

About Allstate

(Get Free Report)

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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