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

The Allstate Corporation (NYSE:ALL) has been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $239.3529.

Several equities research analysts have issued reports on ALL shares. UBS Group increased their target price on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Citigroup increased their price objective on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday. BMO Capital Markets raised their target price on Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 price target on shares of Allstate in a research report on Thursday, February 5th. Finally, Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th.

Allstate Stock Up 0.8%

ALL opened at $206.41 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $54.01 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 0.43 and a beta of 0.23. Allstate has a twelve month low of $176.00 and a twelve month high of $216.75. The company’s 50-day moving average price is $203.43 and its two-hundred day moving average price is $203.97.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.72 by $5.59. The company had revenue of $14.57 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. Allstate’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $7.67 EPS. As a group, equities analysts expect that Allstate will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is 10.47%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 47,000 shares of company stock valued at $10,012,228 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after purchasing an additional 435,145 shares in the last quarter. State Street Corp grew its stake in Allstate by 0.7% in the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock worth $2,557,362,000 after buying an additional 85,468 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Allstate by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock worth $1,345,961,000 after buying an additional 79,366 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after acquiring an additional 395,195 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.