Allstate (NYSE:ALL) Hits New 12-Month Low at $102.89

Posted by Defense World Staff on Jul 16th, 2023

The Allstate Co. (NYSE:ALL – Get Free Report) shares reached a new 52-week low during trading on Friday . The company traded as low as $102.89 and last traded at $103.20, with a volume of 138628 shares. The stock had previously closed at $104.83.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. Bank of America cut their target price on Allstate from $149.00 to $136.00 in a research report on Friday, June 16th. JPMorgan Chase & Co. lifted their target price on Allstate from $150.00 to $162.00 in a research report on Thursday, July 6th. BMO Capital Markets cut their target price on Allstate from $130.00 to $120.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 29th. Citigroup cut their target price on Allstate from $150.00 to $138.00 in a research report on Tuesday, April 18th. Finally, William Blair upgraded Allstate from a “market perform” rating to an “outperform” rating in a research report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $138.31.

Allstate Price Performance

The stock has a fifty day simple moving average of $111.50 and a two-hundred day simple moving average of $119.59. The company has a market cap of $26.60 billion, a PE ratio of -11.41, a price-to-earnings-growth ratio of 17.43 and a beta of 0.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.55.

Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The insurance provider reported ($1.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.94) by $0.64. Allstate had a negative return on equity of 7.77% and a negative net margin of 4.33%. The company had revenue of $13.79 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts predict that The Allstate Co. will post 0.86 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, August 21st will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 3.52%. Allstate’s dividend payout ratio (DPR) is -40.14%.

Institutional Investors Weigh In On Allstate

Institutional investors have recently modified their holdings of the company. Accurate Wealth Management LLC purchased a new stake in shares of Allstate during the 4th quarter worth approximately $27,000. CVA Family Office LLC boosted its stake in shares of Allstate by 48.4% during the 1st quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 92 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Allstate during the 1st quarter worth approximately $33,000. OLD Mission Capital LLC purchased a new stake in shares of Allstate during the 4th quarter worth approximately $41,000. Finally, Kalos Management Inc. purchased a new stake in Allstate in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 75.44% of the company’s stock.

Allstate Company Profile

(Get Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.