The Allstate Corporation (NYSE:ALL) Given Average Rating of “Moderate Buy” by Brokerages

The Allstate Corporation (NYSE:ALL) has received an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and four have given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $237.9412.

Several brokerages have issued reports on ALL. William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Morgan Stanley restated an “equal weight” rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Mizuho reduced their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Finally, Keefe, Bruyette & Woods increased their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were 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. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Hedge funds have recently made changes to their positions in the business. MV Capital Management Inc. purchased a new position in shares of Allstate during the fourth quarter worth about $25,000. Harbor Capital Advisors Inc. lifted its position in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dorato Capital Management acquired a new stake in Allstate during the 4th quarter worth approximately $27,000. Navalign LLC purchased a new position in shares of Allstate in the 4th quarter valued at approximately $27,000. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 0.0%

Shares of Allstate stock opened at $207.10 on Friday. The company has a fifty day simple moving average of $206.32 and a 200-day simple moving average of $205.08. Allstate has a 12-month low of $176.00 and a 12-month high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $53.75 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 0.42 and a beta of 0.22.

Allstate (NYSE:ALL) last announced its quarterly earnings results 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 net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period last year, the business earned $7.67 EPS. Allstate’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Allstate will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a $1.08 dividend. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date was Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate’s payout ratio is currently 11.31%.

Allstate Company Profile

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.