Allstate (NYSE:ALL) Trading Up 3.3% - Time to Buy?

Shares of The Allstate Co. (NYSE:ALL - Get Free Report) rose 3.3% during trading on Thursday . The company traded as high as $212.91 and last traded at $211.70. Approximately 1,018,564 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 1,495,591 shares. The stock had previously closed at $204.87.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price objective on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Barclays cut their target price on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $217.94.

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Allstate Trading Up 0.0 %

The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a market cap of $54.74 billion, a PE ratio of 12.15, a P/E/G ratio of 1.01 and a beta of 0.47. The company's 50-day moving average is $193.75 and its 200 day moving average is $193.12.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, sell-side analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.94%. Allstate's dividend payout ratio is 23.54%.

Allstate declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Institutional Trading of Allstate

Several large investors have recently added to or reduced their stakes in the business. VSM Wealth Advisory LLC bought a new stake in Allstate in the fourth quarter worth $25,000. FSA Wealth Management LLC bought a new stake in shares of Allstate during the 3rd quarter worth about $26,000. Twin Tree Management LP acquired a new position in shares of Allstate during the 4th quarter valued at about $27,000. Vision Financial Markets LLC bought a new position in shares of Allstate in the 4th quarter valued at approximately $29,000. Finally, Hopwood Financial Services Inc. acquired a new stake in Allstate in the 4th quarter worth approximately $29,000. 76.47% of the stock is owned by institutional investors.

About Allstate

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.