Allstate (NYSE:ALL) Upgraded at Citigroup

Citigroup upgraded shares of Allstate (NYSE:ALL) to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company set a $202.00 price target on shares of Allstate and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Morgan Stanley upped their target price on shares of Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Barclays reiterated an “underweight” rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Finally, Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.33.

Allstate Trading Down 0.9%

Allstate stock opened at $206.76 on Wednesday. The stock has a market cap of $54.48 billion, a P/E ratio of 9.72, a PEG ratio of 0.86 and a beta of 0.35. Allstate has a fifty-two week low of $176.00 and a fifty-two week high of $213.18. The firm’s fifty day moving average price is $198.15 and its 200-day moving average price is $198.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Equities research analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio is presently 18.81%.

Institutional Trading of Allstate

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate during the fourth quarter worth about $231,000. Townsquare Capital LLC boosted its holdings in shares of Allstate by 52.3% during the fourth quarter. Townsquare Capital LLC now owns 6,278 shares of the insurance provider’s stock worth $1,210,000 after purchasing an additional 2,155 shares during the period. Mariner LLC boosted its holdings in shares of Allstate by 8.0% during the fourth quarter. Mariner LLC now owns 66,371 shares of the insurance provider’s stock worth $12,796,000 after purchasing an additional 4,890 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Allstate by 18.5% during the fourth quarter. NewEdge Advisors LLC now owns 26,091 shares of the insurance provider’s stock worth $5,030,000 after purchasing an additional 4,082 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

About Allstate

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.