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

The Allstate Co. (NYSE:ALL) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $217.19.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Raymond James increased their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Bank of America lifted their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley upped their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th.

Allstate Price Performance

NYSE ALL opened at $196.26 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market cap of $51.97 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. Allstate has a 52 week low of $134.17 and a 52 week high of $209.88. The firm’s 50-day simple moving average is $194.95 and its two-hundred day simple moving average is $181.42.

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

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is presently 23.83%.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of large investors have recently bought and sold shares of the stock. SPC Financial Inc. grew its holdings in shares of Allstate by 3.6% in the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock worth $297,000 after purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in Allstate by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after acquiring an additional 54 shares during the last quarter. Abacus Planning Group Inc. increased its position in shares of Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after acquiring an additional 56 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after acquiring an additional 59 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. boosted its holdings in shares of Allstate by 15.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 60 shares during the period. 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.