Top investors say The Allstate Corporation (ALL) ticks everything they need

The Allstate Corporation (NYSE: ALL) stock fell -0.99% on Friday to $113.92 against a previous-day closing price of $115.06. With 2.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.88 million shares. During the session, the Insurance – Property & Casualty company that operates in wider Financial sector, reached to the highest price of $116.69 whereas the lowest price it dropped to was $112.05. The 52-week range on ALL shows that it touched its highest point at $144.46 and its lowest point at $106.11 during that stretch. It currently has a 1-year price target of $142.14. With its current market cap of 31.33 billion, ALL has annualized dividend of $3.40 while the current yield stands at 2.98%. Beta for the stock currently stands at 0.75.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALL was down-trending over the past week, with a drop of -1.57%, but this was down by -13.13% over a month. Three-month performance dropped to -14.78% while six-month performance fell -3.20%. The stock lost -11.64% in the past year, while it has lost -3.17% so far this year. A look at the trailing 12-month EPS for ALL yields 11.20 with Next year EPS estimates of 12.33. For the next quarter, that number is -1.30. This implies an EPS growth rate of 0.80% for this year and 94.42% for next year. EPS is expected to grow by 5.32% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 29.50%.

Float and Shares Shorts:

At present, 278.10 million ALL shares are outstanding with a float of 273.52 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.29 million, which was 1.20% higher than short shares on Jun 14, 2022. In addition to Mr. Thomas Joseph Wilson II as the firm’s Chairman, Pres & CEO, Mr. Mario Rizzo serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 78.42% of ALL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.41% of ALL, in contrast to 36.69% held by mutual funds. Shares owned by individuals account for 1.40%. As the largest shareholder in ALL with 8.62% of the stake, The Vanguard Group, Inc. holds 23,707,726 shares worth 23,707,726. A second-largest stockholder of ALL, SSgA Funds Management, Inc., holds 13,887,090 shares, controlling over 5.05% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ALL, holding 13,562,028 shares or 4.93% stake. With a 2.95% stake in ALL, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 8,109,846 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.21% of ALL stock, is the second-largest Mutual Fund holder. It holds 6,085,499 shares valued at 771.22 million. Schwab US Dividend Equity ETF holds 1.25% of the stake in ALL, owning 3,445,908 shares worth 436.7 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. It generated $656.00M net income for the quarter, which came to $3.64B over the last twelve months.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALL since 22 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 11 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALL analysts setting a high price target of $188.00 and a low target of $110.00, the average target price over the next 12 months is $143.06. Based on these targets, ALL could surge 65.03% to reach the target high and fall by -3.44% to reach the target low. Reaching the average price target will result in a growth of 25.58% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ALL will report FY 2022 earnings on 02/02/2023. Analysts have provided yearly estimates in a range of $9.72 being high and $1.85 being low. For ALL, this leads to a yearly average estimate of $5.73. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. The Allstate Corporation surprised analysts by -$2.63 when it reported -$3.81 EPS against a consensus estimate of -$1.18. The surprise factor in the prior quarter was -$0.25. Based on analyst estimates, the high estimate for the next quarter is $2.55 and the low estimate is -$0.81. The average estimate for the next quarter is thus $0.98.

Summary of Insider Activity:

Insiders traded ALL stock several times over the past three months with 8 Buys and 6 Sells. In these transactions, 370,675 shares were bought while 365,032 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 31 over the past year. The total number of shares bought during that period was 773,377 while 602,275 shares were sold.

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