Allstate (NYSE:ALL) Given “Hold” Rating at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Allstate (NYSE:ALL) in a report published on Monday, MarketBeat.com reports. The firm currently has a $231.00 price target on the insurance provider’s stock, up from their previous price target of $224.00.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Roth Capital boosted their price objective on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. William Blair downgraded Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Evercore ISI set a $225.00 price target on Allstate in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company upped their price target on Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $235.69.

Allstate Trading Down 1.7%

Allstate stock opened at $208.53 on Monday. Allstate has a 12 month low of $176.00 and a 12 month high of $215.89. The company has a market capitalization of $54.57 billion, a price-to-earnings ratio of 6.75, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. The business’s fifty day simple moving average is $207.69 and its two-hundred day simple moving average is $203.51. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.91 earnings per share. As a group, equities analysts predict that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s payout ratio is presently 12.95%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 48,400 shares of company stock worth $10,313,256 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Avantax Advisory Services Inc. lifted its holdings in shares of Allstate by 3.1% during the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after purchasing an additional 704 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in Allstate by 3.8% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 53,802 shares of the insurance provider’s stock valued at $10,831,000 after buying an additional 1,959 shares in the last quarter. Commonwealth Retirement Investments LLC raised its stake in Allstate by 103.5% in the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after buying an additional 6,590 shares during the last quarter. McGowan Group Asset Management Inc. grew its stake in shares of Allstate by 1,020.8% during the second quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock worth $6,979,000 after acquiring an additional 31,573 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Allstate during the second quarter worth about $704,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.