Allstate (NYSE:ALL) Reaches New 1-Year High – Should You Buy?

The Allstate Corporation (NYSE:ALL)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $217.65 and last traded at $218.5040, with a volume of 331820 shares. The stock had previously closed at $214.88.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALL. Wells Fargo & Company raised their target price on Allstate from $227.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised their target price on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Evercore set a $225.00 price target on Allstate in a report on Wednesday, January 7th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $238.65.

Allstate Price Performance

The company has a market capitalization of $56.62 billion, a price-to-earnings ratio of 5.74, a price-to-earnings-growth ratio of 0.43 and a beta of 0.22. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $208.29 and a 200 day simple moving average of $205.40.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.67 earnings per share. As a group, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is currently 11.31%.

Institutional Trading of Allstate

Large investors have recently added to or reduced their stakes in the business. MV Capital Management Inc. acquired a new stake in Allstate in the 4th quarter valued at approximately $25,000. Harbor Capital Advisors Inc. boosted its stake in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Navalign LLC bought a new position in Allstate during the 4th quarter valued at $27,000. Barnes Dennig Private Wealth Management LLC boosted its stake in Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Finally, Dorato Capital Management bought a new position in Allstate during the 4th quarter valued at $27,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.