Allstate (NYSE:ALL) Hits New 1-Year High Following Earnings Beat

The Allstate Co. (NYSE:ALL) shares reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $177.37 and last traded at $172.88, with a volume of 354377 shares. The stock had previously closed at $171.56.

The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 15.14%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted ($1.30) earnings per share.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is presently 81.24%.

Analysts Set New Price Targets

Several research firms recently commented on ALL. TD Cowen assumed coverage on Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price target on the stock. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and increased their target price for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. BMO Capital Markets lifted their price target on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research note on Friday, January 19th. UBS Group increased their price objective on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, Roth Mkm raised their price objective on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average price target of $174.18.

Insider Transactions at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several institutional investors have recently bought and sold shares of ALL. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Allstate in the 1st quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in Allstate in the first quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new position in Allstate during the 1st quarter valued at $26,000. Private Wealth Management Group LLC bought a new position in Allstate during the 4th quarter valued at $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Allstate during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $44.24 billion, a P/E ratio of 37.13, a P/E/G ratio of 0.41 and a beta of 0.51. The stock has a 50 day moving average price of $165.88 and a 200 day moving average price of $150.65.

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.