The Allstate Corporation (NYSE:ALL) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of The Allstate Corporation (NYSE:ALL) have been given a consensus rating of “Moderate Buy” by the twenty-two brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $254.80.

ALL has been the topic of a number of research analyst reports. Roth Capital reiterated a “buy” rating and set a $275.00 price objective on shares of Allstate in a research note on Friday. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and upped their target price for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Evercore set a $240.00 price target on shares of Allstate in a research report on Friday, July 10th. Wells Fargo & Company boosted their price objective on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Mizuho upped their price objective on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th.

Allstate Trading Down 0.0%

NYSE:ALL opened at $249.84 on Monday. The business’s 50-day moving average is $227.29 and its two-hundred day moving average is $214.40. The firm has a market capitalization of $64.31 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.43 and a beta of 0.16. Allstate has a 12 month low of $188.08 and a 12 month high of $257.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.53 earnings per share. Research analysts predict that Allstate will post 30.4 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is 9.53%.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALL. Norges Bank acquired a new position in Allstate during the 4th quarter valued at approximately $531,294,000. GQG Partners LLC increased its position in Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares during the period. Franklin Resources Inc. lifted its stake in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after buying an additional 822,583 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Allstate during the third quarter valued at $148,641,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.