Allstate (NYSE:ALL) Sets New 52-Week High After Dividend Announcement

The Allstate Corporation (NYSE:ALL)’s stock price hit a new 52-week high during trading on Friday following a dividend announcement from the company. The stock traded as high as $215.89 and last traded at $215.57, with a volume of 689030 shares. The stock had previously closed at $211.74.

The newly announced dividend which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $1.00 dividend. The ex-dividend date is Monday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s payout ratio is 12.95%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ALL shares. Wolfe Research upgraded shares of Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. BMO Capital Markets raised their price objective on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Roth Capital set a $230.00 price objective on shares of Allstate and gave the stock a “buy” rating in a report on Friday, September 26th. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $246.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Finally, Morgan Stanley raised their price objective on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.64.

Allstate Stock Performance

The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $56.31 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The stock has a 50 day simple moving average of $203.11 and a 200 day simple moving average of $201.98.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 earnings per share. On average, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 400 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $215.22, for a total value of $86,088.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,661,032.12. This represents a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Allstate in the fourth quarter worth approximately $231,000. IFP Advisors Inc lifted its position in shares of Allstate by 15.4% in the first quarter. IFP Advisors Inc now owns 1,032 shares of the insurance provider’s stock valued at $214,000 after acquiring an additional 138 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in Allstate by 23.1% in the 1st quarter. Crestwood Advisors Group LLC now owns 1,514 shares of the insurance provider’s stock worth $314,000 after purchasing an additional 284 shares during the period. Finally, Choreo LLC grew its stake in Allstate by 3.9% during the first quarter. Choreo LLC now owns 6,726 shares of the insurance provider’s stock valued at $1,399,000 after acquiring an additional 253 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

About Allstate

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.