Allstate Corp. (NYSE:ALL)‘s stock had its “overweight” rating reaffirmed by research analysts at Barclays PLC in a report issued on Friday. They presently have a $79.00 price target on the stock, up from their prior price target of $74.00.
Several other equities analysts have also issued reports on ALL. Citigroup Inc. restated a “buy” rating on shares of Allstate Corp. in a report on Friday, June 3rd. Macquarie restated an “outperform” rating and issued a $78.00 target price on shares of Allstate Corp. in a report on Wednesday, June 8th. MKM Partners reaffirmed a “buy” rating on shares of Allstate Corp. in a research note on Thursday, June 16th. Zacks Investment Research downgraded shares of Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Finally, Deutsche Bank AG lifted their price target on shares of Allstate Corp. from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 72 ($0.94).
Allstate Corp. (NYSE:ALL) opened at 68.40 on Friday. The firm has a market capitalization of $25.41 billion, a PE ratio of 17.22 and a beta of 0.95. Allstate Corp. has a one year low of $56.03 and a one year high of $70.38. The company has a 50 day moving average price of $68.63 and a 200-day moving average price of $67.86.
Allstate Corp. (NYSE:ALL) last released its earnings results on Wednesday, August 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $8.14 billion. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. Allstate Corp.’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, equities analysts predict that Allstate Corp. will post $4.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Wednesday, August 31st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Monday, August 29th. Allstate Corp.’s payout ratio is 33.59%.
In other Allstate Corp. news, insider Harriet K. Harty sold 6,779 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of GBX 68.64 ($0.90), for a total value of £4,653.11 ($6,073.76). Following the transaction, the insider now directly owns 12,316 shares in the company, valued at £8,453.70 ($11,034.72). The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven E. Shebik sold 41,334 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of GBX 68.86 ($0.90), for a total transaction of £28,462.59 ($37,152.58). Following the completion of the transaction, the chief financial officer now owns 102,959 shares in the company, valued at £70,897.57 ($92,543.49). The disclosure for this sale can be found here. 1.58% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. CIBC World Markets Inc. boosted its position in Allstate Corp. by 6.0% in the first quarter. CIBC World Markets Inc. now owns 36,225 shares of the company’s stock worth $2,440,000 after buying an additional 2,057 shares during the last quarter. Pacad Investment Ltd. boosted its position in Allstate Corp. by 4.8% in the first quarter. Pacad Investment Ltd. now owns 17,519 shares of the company’s stock worth $1,180,000 after buying an additional 799 shares during the last quarter. Ngam Advisors L.P. boosted its position in Allstate Corp. by 10.1% in the first quarter. Ngam Advisors L.P. now owns 75,749 shares of the company’s stock worth $5,104,000 after buying an additional 6,951 shares during the last quarter. Teachers Advisors Inc. boosted its position in Allstate Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 828,626 shares of the company’s stock worth $55,825,000 after buying an additional 19,379 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Allstate Corp. by 29.1% in the first quarter. Prudential Financial Inc. now owns 2,123,965 shares of the company’s stock worth $143,092,000 after buying an additional 479,170 shares during the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.
About Allstate Corp.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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