Columbia Management Investment Ad… recently announced the acquisition of new stake in The Allstate Corporation (NYSE:ALL). The institutional investor has increased its shareholding in the Financial company by 4.51% to 7.33 million shares with purchase of 0.32 million shares. This fresh investment now brings its stake to 2.33% valued currently at $710.87 million.
With over 2.08 million The Allstate Corporation (ALL) shares trading Friday and a closing price of $94.39 on the day, the dollar volume was approximately $196.05 million. The shares have shown a positive weekly performance of 0.03% and its price on 07/31/20 gained nearly 2.51%. Currently, there are 317.40M common shares owned by the public and among those 312.81M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for ALL have a consensus price objective of $116.31. The analysts have set the share’s price value over the next 12 months at a high of $135.00 and a low of $101.00 should the stock experience a downside. Incidentally, analysts’ outlook for the The Allstate Corporation stock is 2.30 for the next 12 months. The average price target is 18.85% above its last price level and an upside to the estimated low will see the stock gain 6.54% over that period. But an upside of 30.08% will see the stock hit the forecast high price target while mean target price for the stock is $119.00.
Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 1,710,715 shares. Insider sales of the common stock occurred on 41 occasions, with total insider shares sold totaling 1,361,848 shares.
The top 3 mutual fund holders in The Allstate Corporation are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Delaware Value Fund. Vanguard Total Stock Market Index owns 8.95 million shares of the company’s stock, all valued at over $867.76 million. The company sold -0.4 million shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard 500 Index Fund sold 98416.0 shares to see its total holdings shrink to 6.52 million shares valued at over $632.05 million and representing 2.08% of the shares outstanding. Delaware Value Fund sold -0.42 million shares to bring its total holdings to over 3.81 million shares at a value of $369.86 million. Delaware Value Fund now owns shares totaling to 1.21% of the shares outstanding.
Shares of The Allstate Corporation (NYSE: ALL) opened at $92.05, down -$0.03 from a prior closing price of $92.08. However, the script later closed the day at $94.39, up 2.51%. The company’s stock has a 5-day price change of 0.03% and -5.36% over the past three months. ALL shares are trading -16.06% year to date (YTD), with the 12-month market performance down to -10.00% lower. It has a 12-month low price of $64.13 and touched a high of $125.92 over the same period. Currently, 2.08 million shares have been traded, compared to an average intraday trading volume of 2.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.08%, -1.08%, and -9.13% respectively.
Institutional ownership of The Allstate Corporation (NYSE: ALL) shares accounts for 79.60% of the company’s 317.40M shares outstanding. Mutual fund holders own 38.92%, while other institutional holders and individual stakeholders account for 40.86% and 1.10% respectively.
It has a market capitalization of $29.75B and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 7.92, while the earnings-per-share (ttm) stands at $11.92. The company has a PEG of 1.43 and the debt-to-equity ratio at 0.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.10% over the week and 2.63% over the month.
Analysts forecast that The Allstate Corporation (ALL) will achieve an EPS of $1.55 for the current quarter, $2.72 for the next quarter and $11.29 for 2021. The lowest estimate earnings-per-share for the quarter is $0.47 while analysts give the company a high EPS estimate of $3. Comparatively, EPS for the current quarter was $2.18 a year ago. Earnings per share for the fiscal year are expected to increase by 149.80%, and 3.56% over the next financial year. EPS should shrink at an annualized rate of 5.54% over the next five years, compared to 17.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate The Allstate Corporation (ALL) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 10 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ALL, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on June 25, 2020, with the firm’s price target at $94-$101. BofA/Merrill coverage for the The Allstate Corporation (ALL) stock in a research note released on June 01, 2020 offered a Buy rating with a price target of . Evercore ISI was of a view on April 13, 2020 that the stock is Outperform, while Citigroup gave the stock Buy rating on January 21, 2020, issuing a price target of $135. JP Morgan on their part issued Overweight rating on November 12, 2019.