Allstate (NYSE:ALL) Trading 3.4% Higher

The Allstate Co. (NYSE:ALL) shares rose 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 mid-day trading, a decline of 95% from the average daily volume of 1,553,467 shares. The stock had previously closed at $171.96.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Morgan Stanley dropped their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Roth Mkm restated a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.29.

Allstate Stock Performance

The firm has a market cap of $47.66 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 1.86 and a beta of 0.48. The stock’s fifty day moving average is $165.51 and its two-hundred day moving average is $165.06. 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 announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned ($4.42) earnings per share. On average, analysts expect that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 2.04%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% 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 ALL. Cerity Partners LLC boosted its stake in Allstate by 64.4% during the fourth quarter. Cerity Partners LLC now owns 19,459 shares of the insurance provider’s stock valued at $2,726,000 after buying an additional 7,626 shares in the last quarter. Perigon Wealth Management LLC grew its stake in shares of Allstate by 35.7% in the 4th quarter. Perigon Wealth Management LLC now owns 3,054 shares of the insurance provider’s stock worth $427,000 after purchasing an additional 803 shares during the last quarter. NewEdge Wealth LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $219,000. Simplicity Solutions LLC boosted its holdings in Allstate by 19.9% during the fourth quarter. Simplicity Solutions LLC now owns 4,990 shares of the insurance provider’s stock worth $699,000 after buying an additional 827 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Allstate during the fourth quarter worth approximately $2,212,000. Institutional investors own 76.47% of the company’s stock.

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.