Allstate (ALL) Downgraded by Keefe, Bruyette & Woods to “Underperform”

Keefe, Bruyette & Woods lowered shares of Allstate (NYSE:ALL) from a market perform rating to an underperform rating in a research note released on Tuesday morning, MarketBeat Ratings reports.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Allstate from a sell rating to a hold rating in a research report on Friday, November 3rd. Buckingham Research initiated coverage on shares of Allstate in a research report on Monday, September 11th. They set an underperform rating and a $74.00 price objective on the stock. Goldman Sachs Group initiated coverage on shares of Allstate in a research report on Monday, December 4th. They set a neutral rating and a $104.00 price objective on the stock. UBS Group boosted their price objective on shares of Allstate from $93.00 to $102.00 and gave the company a neutral rating in a research report on Monday, November 6th. Finally, Credit Suisse Group boosted their price objective on shares of Allstate from $91.00 to $95.00 and gave the company a neutral rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $96.43.

Allstate (ALL) opened at $101.87 on Tuesday. Allstate has a 1-year low of $73.04 and a 1-year high of $105.36. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31. The firm has a market cap of $36,550.00, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). Allstate had a return on equity of 13.11% and a net margin of 7.32%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. equities research analysts forecast that Allstate will post 6.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 20.56%.

In related news, insider Suren Gupta sold 103,242 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total value of $10,187,920.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas J. Wilson sold 195,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $99.13, for a total transaction of $19,330,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 432,242 shares of company stock valued at $42,827,931. 1.58% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. lifted its position in shares of Allstate by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after buying an additional 5 shares during the last quarter. Sandy Spring Bank lifted its position in shares of Allstate by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after buying an additional 28 shares during the last quarter. South State Corp lifted its position in shares of Allstate by 3.2% during the second quarter. South State Corp now owns 5,620 shares of the insurance provider’s stock valued at $497,000 after buying an additional 176 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Allstate by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,597 shares of the insurance provider’s stock valued at $672,000 after buying an additional 253 shares during the last quarter. Finally, Afam Capital Inc. lifted its position in shares of Allstate by 1.1% during the second quarter. Afam Capital Inc. now owns 25,484 shares of the insurance provider’s stock valued at $2,254,000 after buying an additional 271 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

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About Allstate

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Analyst Recommendations for Allstate (NYSE:ALL)

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