Allstate Corporation (The) (ALL) Reaches New 1-Year High After Dividend Announcement

Allstate Corporation (The) (NYSE:ALL) shares reached a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $79.20 and last traded at $79.23, with a volume of 862,442 shares traded. The stock had previously closed at $78.35.

The newly announced dividend which will be paid on Monday, April 3rd. Investors of record on Tuesday, February 28th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.88%. This is an increase from Allstate Corporation (The)’s previous quarterly dividend of $0.33. Allstate Corporation (The)’s dividend payout ratio is currently 28.09%.

A number of equities research analysts recently commented on the company. Goldman Sachs Group, Inc. (The) upgraded Allstate Corporation (The) from a “neutral” rating to a “buy” rating and upped their price objective for the company from $71.00 to $82.00 in a report on Tuesday, January 10th. FBR & Co reiterated a “hold” rating on shares of Allstate Corporation (The) in a report on Thursday, February 2nd. Zacks Investment Research upgraded Allstate Corporation (The) from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Monday, February 6th. Credit Suisse Group AG downgraded Allstate Corporation (The) from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $80.00 in a report on Friday, January 6th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Allstate Corporation (The) in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $80.00.

The company’s 50-day moving average is $75.21 and its 200 day moving average is $70.82. The company has a market capitalization of $28.87 billion, a PE ratio of 16.89 and a beta of 0.96.

Allstate Corporation (The) (NYSE:ALL) last announced its earnings results on Wednesday, February 1st. The company reported $2.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.54. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $7.74 billion. Allstate Corporation (The) had a return on equity of 10.21% and a net margin of 5.14%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 EPS. Equities analysts predict that Allstate Corporation will post $6.22 EPS for the current fiscal year.

In other news, insider Suren Gupta sold 46,297 shares of Allstate Corporation (The) stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $72.69, for a total value of $3,365,328.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Samuel H. Pilch sold 21,178 shares of Allstate Corporation (The) stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $72.24, for a total value of $1,529,898.72. The disclosure for this sale can be found here. Insiders have sold a total of 144,824 shares of company stock worth $10,656,768 over the last ninety days. Company insiders own 1.58% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ALL. Elkfork Partners LLC acquired a new position in Allstate Corporation (The) during the fourth quarter valued at $3,032,000. Marshall Wace LLP acquired a new position in Allstate Corporation (The) during the fourth quarter valued at $6,119,000. Trexquant Investment LP raised its position in Allstate Corporation (The) by 71.0% in the fourth quarter. Trexquant Investment LP now owns 17,952 shares of the company’s stock valued at $1,331,000 after buying an additional 7,452 shares during the period. LBA Wealth Management LLC raised its position in Allstate Corporation (The) by 0.9% in the fourth quarter. LBA Wealth Management LLC now owns 13,503 shares of the company’s stock valued at $1,001,000 after buying an additional 125 shares during the period. Finally, FIL Ltd raised its position in Allstate Corporation (The) by 1.7% in the fourth quarter. FIL Ltd now owns 231,227 shares of the company’s stock valued at $17,139,000 after buying an additional 3,967 shares during the period. 76.72% of the stock is owned by hedge funds and other institutional investors.

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Allstate Corporation (The) Company Profile

The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.

5 Day Chart for NYSE:ALL

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