Allstate (NYSE:ALL) Hits New 12-Month High – What’s Next?

The Allstate Corporation (NYSE:ALL) reached a new 52-week high on Monday . The company traded as high as $222.33 and last traded at $221.6350, with a volume of 890784 shares trading hands. The stock had previously closed at $217.37.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALL. Piper Sandler increased their price target on Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $241.67.

Allstate Stock Performance

The stock has a fifty day simple moving average of $211.19 and a two-hundred day simple moving average of $207.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $56.96 billion, a price-to-earnings ratio of 4.88, a P/E/G ratio of 0.39 and a beta of 0.21.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.53 EPS. Analysts expect that The Allstate Corporation will post 29.22 EPS for the current fiscal year.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. Truist Financial Corp boosted its stake in shares of Allstate by 4.7% in the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock valued at $26,501,000 after purchasing an additional 5,542 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Allstate by 6.9% during the third quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock worth $40,489,000 after buying an additional 12,225 shares during the last quarter. Caprock Group LLC acquired a new position in Allstate in the third quarter valued at $3,598,000. Coastal Bridge Advisors LLC lifted its holdings in Allstate by 530.6% in the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock valued at $3,901,000 after buying an additional 15,292 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Allstate during the third quarter valued at $7,814,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.