Allstate (NYSE:ALL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allstate (NYSE:ALL) from a hold rating to a buy rating in a report issued on Monday.

Other analysts also recently issued reports about the stock. Mizuho boosted their price target on shares of Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a report on Wednesday, July 15th. Wells Fargo & Company raised their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Roth Capital reissued a “buy” rating and set a $275.00 target price on shares of Allstate in a report on Friday, July 17th. Finally, Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Allstate Price Performance

Shares of ALL opened at $252.10 on Monday. The firm has a market capitalization of $64.90 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 0.43 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a one year low of $188.08 and a one year high of $257.67. The stock’s fifty day moving average is $229.54 and its 200-day moving average is $215.33.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.53 earnings per share. Equities analysts anticipate that Allstate will post 30.51 EPS for the current year.

Allstate Dividend Announcement

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

Insider Activity

In related news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 over the last three months. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALL. Tema ETFs LLC increased its position in shares of Allstate by 24.3% in the second quarter. Tema ETFs LLC now owns 4,867 shares of the insurance provider’s stock worth $1,158,000 after acquiring an additional 951 shares in the last quarter. William Mack & Associates Inc. purchased a new stake in shares of Allstate in the 2nd quarter valued at approximately $227,000. Paladin Wealth LLC purchased a new stake in shares of Allstate in the 2nd quarter valued at approximately $206,000. Revolve Wealth Partners LLC boosted its stake in Allstate by 14.1% in the 2nd quarter. Revolve Wealth Partners LLC now owns 1,151 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 142 shares during the period. Finally, Allied Private Wealth LLC acquired a new position in Allstate in the 2nd quarter worth approximately $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

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.