Allstate (NYSE:ALL) Shares Up 3.4%

The Allstate Co. (NYSE:ALL)’s stock price was up 3.4% during trading on Wednesday . The company traded as high as $178.00 and last traded at $177.81. Approximately 74,009 shares traded hands during trading, a decline of 95% from the average daily volume of 1,553,467 shares. The stock had previously closed at $171.96.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALL shares. Piper Sandler increased their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday. Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $191.94.

Allstate Price Performance

The company has a market capitalization of $47.40 billion, a price-to-earnings ratio of 39.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The company has a 50-day moving average price of $166.16 and a 200-day moving average price of $165.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.42) earnings per share. On average, equities research analysts expect that The Allstate Co. will post 13.64 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 2.05%. Allstate’s dividend payout ratio is presently 81.24%.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Regal Investment Advisors LLC boosted its position in shares of Allstate by 8.6% during the second quarter. Regal Investment Advisors LLC now owns 1,427 shares of the insurance provider’s stock worth $228,000 after buying an additional 113 shares during the period. Quarry LP boosted its position in Allstate by 3,100.0% during the 2nd quarter. Quarry LP now owns 2,144 shares of the insurance provider’s stock worth $342,000 after acquiring an additional 2,077 shares during the last quarter. William B. Walkup & Associates Inc. bought a new position in shares of Allstate during the 2nd quarter worth approximately $3,708,000. NewEdge Advisors LLC raised its holdings in shares of Allstate by 29.3% in the second quarter. NewEdge Advisors LLC now owns 18,516 shares of the insurance provider’s stock valued at $2,956,000 after purchasing an additional 4,192 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Allstate by 19.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 37,182 shares of the insurance provider’s stock worth $5,937,000 after purchasing an additional 6,003 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.