Allstate (NYSE:ALL) Hits New 1-Year High After Dividend Announcement

Shares of Allstate Corp (NYSE:ALL) reached a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as $111.41 and last traded at $111.33, with a volume of 46413 shares trading hands. 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 issued 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 (DPR) is currently 24.78%.

ALL has been the topic of several research analyst reports. UBS Group raised their target price on shares of Allstate from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI initiated coverage on shares of Allstate in a report on Thursday, October 17th. They set an “in-line” rating and a $117.00 target price on the stock. ValuEngine downgraded shares of Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. restated an “overweight” rating and set a $118.00 target price on shares of Allstate in a report on Tuesday, November 12th. Finally, Morgan Stanley raised their target price on shares of Allstate from $110.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $111.46.

The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $35.89 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.32 and a beta of 0.81. The stock’s fifty day moving average price is $107.70 and its 200-day moving average price is $103.15.

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

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

Several hedge funds and other institutional investors have recently bought and sold shares of ALL. Nuveen Asset Management LLC raised its holdings in shares of Allstate by 19,864.2% in the second quarter. Nuveen Asset Management LLC now owns 1,907,977 shares of the insurance provider’s stock valued at $194,023,000 after purchasing an additional 1,898,420 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Allstate by 141.0% during the second quarter. Renaissance Technologies LLC now owns 1,246,700 shares of the insurance provider’s stock worth $126,777,000 after buying an additional 729,400 shares during the last quarter. MUFG Securities EMEA plc increased its holdings in Allstate by 297.7% during the second quarter. MUFG Securities EMEA plc now owns 783,100 shares of the insurance provider’s stock worth $79,633,000 after buying an additional 586,200 shares during the last quarter. Invesco Ltd. increased its holdings in Allstate by 12.6% during the second quarter. Invesco Ltd. now owns 4,342,920 shares of the insurance provider’s stock worth $441,631,000 after buying an additional 486,897 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC acquired a new position in Allstate during the second quarter worth $39,602,000. 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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