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

Shares of The Allstate Co. (NYSE:ALL) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $173.71.

A number of equities research analysts recently weighed in on ALL shares. The Goldman Sachs Group raised their target price on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company raised their target price on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler lifted their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st.

Allstate Price Performance

ALL stock opened at $165.76 on Tuesday. The firm has a 50 day moving average of $163.22 and a 200-day moving average of $145.95. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. Allstate has a 12 month low of $100.57 and a 12 month high of $174.57. The firm has a market capitalization of $43.61 billion, a P/E ratio of -133.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The company had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. Allstate’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned ($1.36) earnings per share. As a group, sell-side analysts predict that Allstate will post 13.41 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.22%. Allstate’s payout ratio is presently -296.77%.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Allstate by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,123,728 shares of the insurance provider’s stock worth $1,137,160,000 after buying an additional 75,898 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Allstate by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock worth $660,318,000 after buying an additional 172,250 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Allstate by 1.1% in the first quarter. Geode Capital Management LLC now owns 5,815,257 shares of the insurance provider’s stock worth $643,015,000 after buying an additional 63,438 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Allstate by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 4,239,513 shares of the insurance provider’s stock worth $472,324,000 after buying an additional 53,821 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

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.