Allstate (NYSE:ALL) Sets New 12-Month High – Still a Buy?

The Allstate Co. (NYSE:ALL) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $210.35 and last traded at $209.38, with a volume of 311856 shares trading hands. The stock had previously closed at $207.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Barclays lowered their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Up 1.0 %

The firm has a market capitalization of $55.52 billion, a PE ratio of 12.33, a P/E/G ratio of 1.01 and a beta of 0.47. The firm has a fifty day moving average of $191.72 and a 200 day moving average of $192.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities research analysts expect that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

Allstate announced that its board has initiated a stock repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently modified their holdings of ALL. VSM Wealth Advisory LLC acquired a new stake in shares of Allstate during the 4th quarter valued at $25,000. FSA Wealth Management LLC purchased a new stake in shares of Allstate in the 3rd quarter valued at approximately $26,000. Twin Tree Management LP purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new position in Allstate in the 4th quarter worth approximately $29,000. Finally, Hopwood Financial Services Inc. purchased a new position in Allstate during the 4th quarter worth approximately $29,000. 76.47% of the stock is currently 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.