Allstate Corporation (ALL) Monthly Overview
Publication Date: September 22, 2024
Company Overview
Allstate Corporation (NYSE: ALL), headquartered in Northbrook, Illinois, is a prominent player in the Financial Services sector, particularly within the Property & Casualty Insurance industry. Established in 1931, Allstate delivers a diverse suite of insurance products and services across the United States and Canada. Their offerings encompass personal and commercial insurance, consumer product protection, and health and benefits solutions. Notably, Allstate employs a multifaceted distribution strategy that integrates agents, online platforms, and retail channels, which positions it as a notable force in the insurance market. Since its listing on stock exchanges on July 13, 1995, Allstate has maintained a strong presence in the financial landscape.
Financial Outlook
The Property and Casualty insurance industry demonstrates a positive financial outlook, and Allstate is well-positioned within this market. Total revenue for the sector is approximately $60.3 billion, underscoring robust market potential. Analysts have set a bullish target high price of $226.00 for Allstate’s stock, indicating substantial upside potential based on projected performance and overall market conditions. With a buy recommendation prevailing among 17 analysts, this reflects a consensus in favor of Allstate’s growth outlook. The current stock price of $191.00 is significantly close to its fifty-two week high of $193.19, suggesting strong performance relative to recent trading history.
Stock Dynamics
Allstate Corporation has 264,040,992 shares outstanding, with approximately 2,082,681 shares shorted, translating to a short interest of about 0.009 percent of the float (262,070,846 shares available for trading). The low percentage of shorted shares reflects investor optimism regarding the company’s future performance and stability. The current trading metrics indicate that the stock is operating effectively within a target price range of $141.00 to $226.00, with an average target price of $199.88, and a median target of $204.00. The stock’s fifty-day moving average stands at $178.91, which further illustrates positive momentum as the current price exceeds this threshold, indicating a potentially bullish outlook for investors.
In summary, Allstate’s strong presence in the Financial Services sector, combined with favorable analyst ratings and solid stock performance metrics, paints a promising picture for investors considering entry or expansion in this market.
| Metric | Value |
|---|---|
| Market Cap | $50.4b |
| Total Debt | $8.1b |
| Total Cash | $5.9b |
| Shares Outstanding | 264.0m |
| Float Shares | 262.1m |
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