The Allstate Co. (NYSE:ALL – Get Rating)’s share price reached a new 52-week low during mid-day trading on Friday after Evercore ISI lowered their price target on the stock from $138.00 to $132.00. Evercore ISI currently has an in-line rating on the stock. Allstate traded as low as $103.20 and last traded at $103.82, with a volume of 217790 shares. The stock had previously closed at $105.58.
Other research analysts have also issued reports about the stock. StockNews.com started coverage on shares of Allstate in a report on Thursday, March 16th. They set a “hold” rating for the company. Barclays decreased their price objective on shares of Allstate from $144.00 to $126.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. UBS Group raised their price objective on shares of Allstate from $150.00 to $160.00 in a report on Tuesday, January 10th. Roth Capital reissued a “buy” rating on shares of Allstate in a report on Thursday, February 2nd. Finally, Citigroup decreased their price target on shares of Allstate from $160.00 to $150.00 in a report on Thursday, January 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Allstate presently has a consensus rating of “Hold” and an average target price of $146.85.
Insider Activity at Allstate
In related news, CFO Jesse E. Merten sold 29,451 shares of Allstate stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $134.18, for a total value of $3,951,735.18. Following the sale, the chief financial officer now directly owns 16,668 shares in the company, valued at approximately $2,236,512.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.77% of the stock is currently owned by insiders.
Institutional Trading of Allstate
A number of hedge funds and other institutional investors have recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD raised its position in shares of Allstate by 123.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock worth $751,264,000 after buying an additional 3,064,105 shares in the last quarter. Boston Partners raised its position in shares of Allstate by 384.6% during the 3rd quarter. Boston Partners now owns 2,707,454 shares of the insurance provider’s stock worth $337,094,000 after buying an additional 2,148,764 shares in the last quarter. Cowa LLC bought a new stake in shares of Allstate during the 1st quarter worth about $30,000. Norges Bank bought a new stake in shares of Allstate in the 4th quarter worth approximately $190,865,000. Finally, Morgan Stanley raised its holdings in shares of Allstate by 29.0% in the 4th quarter. Morgan Stanley now owns 3,563,628 shares of the insurance provider’s stock worth $483,228,000 after purchasing an additional 800,665 shares in the last quarter. 77.48% of the stock is currently owned by institutional investors.
Allstate Stock Performance
The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $127.01 and its 200 day moving average is $129.39.
Allstate (NYSE:ALL – Get Rating) last released its earnings results on Thursday, February 2nd. The insurance provider reported ($1.36) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.01. Allstate had a negative net margin of 2.55% and a negative return on equity of 1.04%. The business had revenue of $13.55 billion for the quarter, compared to the consensus estimate of $13.45 billion. During the same period in the previous year, the firm earned $2.75 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts expect that The Allstate Co. will post 6.73 EPS for the current fiscal year.
Allstate Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, February 28th will be given a $0.89 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, February 27th. Allstate’s dividend payout ratio (DPR) is -66.92%.
Allstate Company Profile
The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.