Allstate (NYSE:ALL) Upgraded by Evercore ISI to Outperform Rating

Evercore ISI upgraded shares of Allstate (NYSE:ALL) from an in-line rating to an outperform rating in a report released on Wednesday morning, Marketbeat reports.

Several other research firms have also commented on ALL. Piper Sandler raised their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. BMO Capital Markets raised their target price on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group upped their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group lifted their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.06.

Allstate Stock Down 5.6 %

Shares of NYSE:ALL opened at $181.12 on Wednesday. Allstate has a 1 year low of $148.23 and a 1 year high of $209.88. The stock has a 50-day simple moving average of $195.84 and a 200-day simple moving average of $185.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $47.96 billion, a P/E ratio of 11.73, a PEG ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Equities analysts forecast that Allstate will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.03%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently made changes to their positions in ALL. Private Advisor Group LLC lifted its position in shares of Allstate by 5.9% in the 2nd quarter. Private Advisor Group LLC now owns 12,906 shares of the insurance provider’s stock worth $2,061,000 after buying an additional 717 shares during the last quarter. Prudential PLC lifted its holdings in Allstate by 46.6% in the second quarter. Prudential PLC now owns 4,285 shares of the insurance provider’s stock worth $684,000 after acquiring an additional 1,363 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Allstate by 2.5% in the second quarter. Wedbush Securities Inc. now owns 7,656 shares of the insurance provider’s stock valued at $1,222,000 after acquiring an additional 187 shares during the period. Choreo LLC grew its holdings in shares of Allstate by 258.3% during the second quarter. Choreo LLC now owns 6,725 shares of the insurance provider’s stock valued at $1,079,000 after purchasing an additional 4,848 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in shares of Allstate during the 2nd quarter worth approximately $9,739,000. 76.47% of the stock is currently owned by 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.