The Allstate Co. (NYSE:ALL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The Allstate Co. (NYSE:ALL) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $217.19.

ALL has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. TD Cowen increased their target price on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America lifted their price target on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently bought and sold shares of ALL. State Street Corp grew its position in shares of Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after purchasing an additional 126,922 shares in the last quarter. Geode Capital Management LLC grew its position in Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after buying an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after acquiring an additional 145,986 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Allstate by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after acquiring an additional 47,038 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 0.3 %

Allstate stock opened at $189.79 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $50.26 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. Allstate has a fifty-two week low of $134.17 and a fifty-two week high of $209.88. The firm’s 50-day simple moving average is $195.61 and its 200 day simple moving average is $182.04.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. Research analysts predict that Allstate will post 16.26 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

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.