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

The Allstate Co. (NYSE:ALL) has earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $192.76.

Several equities research analysts recently commented on the company. Piper Sandler lifted their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets boosted their price target on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods boosted their price target on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Bank of America boosted their price target on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Allstate Price Performance

NYSE ALL opened at $189.65 on Tuesday. Allstate has a one year low of $109.01 and a one year high of $193.97. The stock has a 50-day moving average of $181.62 and a 200 day moving average of $171.69. The company has a market capitalization of $50.05 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same period last year, the company earned ($4.42) EPS. Allstate’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Allstate will post 15.2 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. Allstate’s payout ratio is currently 81.24%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 238,305 shares of company stock valued at $43,082,657. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Several hedge funds have recently modified their holdings of the company. Premier Path Wealth Partners LLC raised its holdings in shares of Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 61 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 78 shares in the last quarter. Beacon Capital Management LLC raised its holdings in shares of Allstate by 8.2% during the 2nd quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock worth $166,000 after acquiring an additional 79 shares in the last quarter. Lodestone Wealth Management LLC raised its holdings in shares of Allstate by 4.8% during the 2nd quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 80 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.