Key Points
- Allstate director Andrea Redmond sold 2,225 shares on June 1 at an average price of $202.91, totaling about $451,475. The sale cut her direct ownership in the insurer by 50%.
- Allstate recently beat Wall Street expectations in its latest quarterly earnings report, posting $10.65 EPS versus the $7.31 estimate and revenue of $16.94 billion, above forecasts. Revenue also rose 3% from a year earlier.
- The company continues to pay a dividend, declaring a quarterly payout of $1.08 per share, or $4.32 annually, which implies a 2.0% yield. Analysts currently rate the stock a “Moderate Buy” with an average price target of $241.67.
The Allstate Corporation (NYSE:ALL - Get Free Report) Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Allstate Stock Performance
NYSE ALL opened at $210.94 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm's fifty day moving average price is $212.78 and its two-hundred day moving average price is $208.59. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The firm has a market capitalization of $54.30 billion, a P/E ratio of 4.65, a price-to-earnings-growth ratio of 0.37 and a beta of 0.18.
Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the firm posted $3.53 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current year.
Allstate Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's dividend payout ratio is 9.53%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in Allstate by 3.7% in the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider's stock valued at $2,571,600,000 after acquiring an additional 438,034 shares during the period. Bank of America Corp DE increased its position in Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the period. GQG Partners LLC increased its position in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider's stock worth $1,142,449,000 after acquiring an additional 1,452,993 shares during the period. Franklin Resources Inc. increased its position in Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider's stock worth $1,042,321,000 after acquiring an additional 1,131,172 shares during the period. Finally, Boston Partners increased its position in Allstate by 14.9% during the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider's stock worth $654,652,000 after acquiring an additional 395,195 shares during the period. 76.47% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on ALL. Citigroup upped their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, March 23rd. The Goldman Sachs Group restated a "neutral" rating and set a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Barclays raised their target price on shares of Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company raised their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and an average price target of $241.67.
Get Our Latest Analysis on Allstate
Allstate Company Profile
(
Get Free Report)
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.
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