The Allstate Co. (NYSE:ALL) Receives Average Recommendation of “Moderate Buy” from Brokerages

The Allstate Co. (NYSE:ALL) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $192.76.

Several research analysts have weighed in on the stock. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm restated a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods increased their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company reduced their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th.

Allstate Stock Performance

Shares of NYSE ALL opened at $185.76 on Friday. Allstate has a 12 month low of $105.85 and a 12 month high of $191.33. The stock has a 50 day moving average of $173.26 and a 200-day moving average of $167.96. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $49.02 billion, a P/E ratio of 41.01, a P/E/G ratio of 1.78 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($4.42) earnings per share. As a group, equities research analysts predict that Allstate will post 15.14 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.98%. Allstate’s dividend payout ratio is currently 81.24%.

Insider Activity at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock valued at $36,122,740 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Allstate

A number of hedge funds have recently made changes to their positions in ALL. E Fund Management Hong Kong Co. Ltd. bought a new position in Allstate in the 1st quarter valued at approximately $25,000. Private Wealth Management Group LLC acquired a new position in shares of Allstate during the fourth quarter worth $25,000. Rise Advisors LLC acquired a new position in shares of Allstate during the first quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate in the first quarter valued at $26,000. Finally, Versant Capital Management Inc raised its position in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.