The Vanguard Group, Inc. has recently announced that it has increased stake in Allstate Corp (NYSE:ALL) by 11.92%. After grabbing 31.14 million shares, the institutional investor is now in possession of 3.32 million shares of the Financial Company. The new investment brought the stake of investor firm to 11.90% having worth around $4.29 billion. Moreover, T. Rowe Price Associates, Inc. increased its share by 0.88 million to have a control over 7.7 million shares. And Charles Schwab Investment Managem raised its holdings to 0.17 million shares by acquiring 5.93 million shares or 2.27% of the stake.
Allstate Corp (ALL) concluded trading on 01/04/24 at a closing price of $148.50, with 3.18 million shares of worth about $471.69 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 36.54% during that period and on Thursday the price saw a gain of about 2.41%. Currently the company’s common shares owned by public are about 263.00M shares, out of which, 259.83M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 24 analysts are covering the ALL stock and their offered price forecasts bring an average price target of $144.28. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $171.00 and could fall to a lowest price of $90.00. The stock’s current price level is -2.92% below of average price target set by the analysts, while a dip to estimated low would result in loss of -65.0% for the stock. However, touching the estimated high of $171.00 would mean a gain of 13.16% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 237,811 shares in 36 of the transactions. In 22 selling transactions, insiders dumped 133,377 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Allstate Corp Vanguard Total Stock Market ETF is currently holding 8.21 million shares of worth totaling $1.13 billion. The company recently came buying 10360.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 31770.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 6.32 million shares with the mutual fund that have a worth of about $871.1 million. Vanguard Mid Cap Index Fund, after buying 5.94 million shares, have now control over 2.27% of the stake in the company. It holds 15648.0 shares of worth $819.06 million.
Allstate Corp (NYSE: ALL) started trading at $147.08, above $2.08 from concluding price of the previous day. However, the stock later moved at a day high price of 151.46, or with a gain of 2.41%. Stock saw a price change of 7.31% in past 5 days and over the past one month there was a price change of 7.11%. Year-to-date (YTD), ALL shares are showing a performance of 6.09% which increased to 8.66% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $100.57 but also hit the highest price of $145.45 during that period. The average intraday trading volume for Allstate Corp shares is 1.59 million. The stock is currently trading 6.22% above its 20-day simple moving average (SMA20), while that difference is up 10.17% for SMA50 and it goes to 26.41% higher than SMA200.
The Vanguard Group, Inc. acquired 31.14 million shares of Allstate Corp having value of about $4.29 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 3.32 million shares in the company valued at close to $492688548.0, or have control over 11.92% stake in the company. Allstate Corp (NYSE: ALL) currently have 263.00M outstanding shares and institutions hold larger chunk of about 80.12% of that. Holding of mutual funds in the company is about 35.29% while other institutional holders and individual stake holders have control over 45.14% and 1.59% of the stake respectively.
The stock has a current market capitalization of $38.86B and its 3Y-monthly beta is at 0.51. It has posted earnings per share of -$7.93 in the same period. It has a debt-to-equity ratio of 0.54. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ALL, volatility over the week remained 1.74% while standing at 1.70% over the month.
Analysts are in expectations that Allstate Corp (ALL) stock would likely to be making an EPS of $2.99 in the current quarter, while forecast for next quarter EPS is $3.36 and it is $12.05 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.15 which is $4.47 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.36 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -122.33% while it is estimated to increase by 647.82% in next year.
Analysts at 24 brokerage firms have issued recommendations for the Allstate Corp (ALL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.08. Out of those 24 Wall Street analysts, 12 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on January 04, 2024 offering an Overweight rating for the stock and assigned a target price range of between $117 and $171 to it.
