Stocks of The Allstate Corporation (NYSE:ALL) traded higher last session on Wall Street, down -2.08% to $111.04.
According to the data, The Allstate Corporation (NYSE:ALL) has 22 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $176.00 and a low of $100.00, we find $144.50. Given the previous closing price of $113.40, this indicates a potential upside of 27.43 percent. ALL stock price is now -2.52% away from the 50-day moving average and -11.72% away from the 200-day moving average. The market capitalization of the company currently stands at $29.46B.
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A total of 8 analysts have issued a hold rating and 12 have given it a buy rating. Brokers who have rated the stock have averaged $138.75 as their price target over the next twelve months.
In other news, Merten Jesse E, EVP & Chief Financial Officer sold 29,451 shares of the company’s stock on Feb 22. The stock was sold for $3,951,588 at an average price of $134.18. Upon completion of the transaction, the EVP & Chief Financial Officer now directly owns 16,668 shares in the company, valued at $1.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 03, President, Enterprise Services Gupta Suren sold 20,241 shares of the business’s stock. A total of $2,773,017 was realized by selling the stock at an average price of $137.00. This leaves the insider owning 82,270 shares of the company worth $9.14 million. Insiders disposed of 702,449 shares of company stock worth roughly $78.0 million over the past 1 year. A total of 0.62% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ALL stock. A new stake in The Allstate Corporation shares was purchased by DIAMOND HILL CAPITAL MANAGEMENT INC during the first quarter worth $334,382,000. PALESTRA CAPITAL MANAGEMENT LLC invested $69,023,000 in shares of ALL during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in The Allstate Corporation valued at approximately $64,803,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in ALL for approximately $54,229,000. TWINBEECH CAPITAL LP purchased a new stake in ALL valued at around $49,622,000 in the second quarter. In total, there are 1,590 active investors with 81.50% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $112.56 for The Allstate Corporation (NYSE: ALL). During the past 12 months, The Allstate Corporation has had a low of $103.20 and a high of $142.15. The fifty day moving average price for ALL is $113.91 and a two-hundred day moving average price translates $125.73 for the stock.
The latest earnings results from The Allstate Corporation (NYSE: ALL) was released for Mar, 2023. According to the Insurance – Property & Casualty Company, earnings per share came in at -$1.3, beating analysts’ expectations of -$1.42 by 0.12. This compares to $2.25 EPS in the same period last year. The net profit margin was -4.50% and return on equity was -14.70% for ALL. The company reported revenue of $13.79 billion for the quarter, compared to $12.34 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.75 percent. For the current quarter, analysts expect ALL to generate $12.49B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/03/2023. Investors who held shares on 06/02/2023 were paid a $0.89 dividend. On an annualized basis, this represents a $3.56 dividend and a 3.21% percent yield. There was an ex-dividend date of 06/01/2023 for this dividend.
The Allstate Corporation(ALL) Company Profile
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. The Protection Services segment provides consumer product protection plans and related technical support for mobile phones, consumer electronics, furniture, and appliances; finance and insurance products, including vehicle service contracts, guaranteed asset protection waivers, road hazard tire and wheel, and paint and fabric protection; towing, jump-start, lockout, fuel delivery, and tire change services; device and mobile data collection services; data and analytic solutions using automotive telematics information; and identity protection services. This segment offers its products under various brands, including Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity, Avail, and Allstate Identity Protection. The Allstate Health and Benefits segment provides life, accident, critical illness, short-term disability, and other health insurance products; stop-loss and fully insured group health products to employers; and short-term medical and medicare supplement insurance to individuals. The Run-off Property-Liability segment offers property and casualty insurance. It sells its products through agents, independent agents, call centers, retailers, voluntary benefits brokers, strategic partners, financial specialists, wholesale partners, and affinity groups, as well as through online and mobile applications. The company was founded in 1931 and is headquartered in Northbrook, Illinois.
