The Allstate Corporation (NYSE: ALL) stock jumped 1.52% on Thursday to $110.55 against a previous-day closing price of $108.90. With 2.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.83 million shares. During the session, the Insurance – Property & Casualty company that operates in wider Financial sector, reached to the highest price of $111.03 whereas the lowest price it dropped to was $109.05. The 52-week range on ALL shows that it touched its highest point at $142.15 and its lowest point at $100.57 during that stretch. It currently has a 1-year price target of $127.94. With its current market cap of 29.33 billion, ALL has annualized dividend of $3.56 while the current yield stands at 3.22%. Beta for the stock currently stands at 0.57.
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 up-trending over the past week, with a rise of 2.62%, but this was up by 5.22% over a month. Three-month performance dropped to -0.76% while six-month performance fell -0.05%. The stock lost -9.78% in the past year, while it has lost -18.47% so far this year. A look at the trailing 12-month EPS for ALL yields -10.36 with Next year EPS estimates of 11.96. For the next quarter, that number is 0.80. This implies an EPS growth rate of -130.80% for this year and 626.90% for next year.
Float and Shares Shorts:
At present, 262.60 million ALL shares are outstanding with a float of 259.95 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.22 million, which was 1.23% higher than short shares on Jul 30, 2023. In addition to Mr. Thomas Joseph Wilson II as the firm’s Chairman, Pres & CEO, Mr. Jesse Edward Merten B.B.A. serves as its Exec. VP & CFO.
Through their ownership of 80.24% of ALL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.12% of ALL, in contrast to 35.49% held by mutual funds. Shares owned by individuals account for 1.49%. As the largest shareholder in ALL with 10.59% of the stake, The Vanguard Group, Inc. holds 27,825,160 shares worth 27,825,160. A second-largest stockholder of ALL, BlackRock Fund Advisors, holds 13,334,872 shares, controlling over 5.07% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ALL, holding 11,455,392 shares or 4.36% stake. With a 3.12% stake in ALL, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 8,207,750 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.40% of ALL stock, is the second-largest Mutual Fund holder. It holds 6,295,578 shares valued at 709.39 million. Schwab US Dividend Equity ETF holds 1.56% of the stake in ALL, owning 4,094,890 shares worth 461.41 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALL since 0 analysts follow the stock currently. 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 $154.00 and a low target of $100.00, the average target price over the next 12 months is $126.47. Based on these targets, ALL could surge 39.3% to reach the target high and fall by -9.54% to reach the target low. Reaching the average price target will result in a growth of 14.4% 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.
Summary of Insider Activity:
Insiders traded ALL stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 927 shares were bought while 1,565 shares were sold. The number of buy transactions has increased to 42 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 397,167 while 333,914 shares were sold.