Allstate’s (ALL) “Neutral” Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of Allstate (NYSE:ALL) in a research report sent to investors on Thursday, MarketBeat reports. The Goldman Sachs Group currently has a $231.00 price target on the insurance provider’s stock.

ALL has been the topic of several other reports. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price objective on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. UBS Group raised their target price on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Wall Street Zen lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.88.

Allstate Stock Performance

NYSE ALL opened at $212.56 on Thursday. The company has a 50-day simple moving average of $204.65 and a two-hundred day simple moving average of $204.70. Allstate has a 12-month low of $176.00 and a 12-month high of $216.75. The firm has a market cap of $55.17 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.44 and a beta of 0.23. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the business earned $7.67 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Allstate will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed 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 is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.0%. Allstate’s dividend payout ratio (DPR) is 11.31%.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MV Capital Management Inc. bought a new stake in shares of Allstate during the 4th quarter valued at about $25,000. Harbor Capital Advisors Inc. boosted its position in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Navalign LLC purchased a new stake in Allstate in the fourth quarter worth $27,000. Barnes Dennig Private Wealth Management LLC grew its stake in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. Finally, Dorato Capital Management bought a new position in Allstate in the fourth quarter worth $27,000. 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.