Brokerages Set The Allstate Co. (NYSE:ALL) PT at $174.88

Shares of The Allstate Co. (NYSE:ALL) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $174.88.

A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Piper Sandler increased their price target on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Evercore ISI increased their price objective on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company increased their price objective on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th.

Allstate Stock Down 0.6 %

Shares of ALL opened at $161.42 on Friday. Allstate has a 1 year low of $100.57 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a 50 day simple moving average of $166.41 and a two-hundred day simple moving average of $159.86. The firm has a market cap of $42.60 billion, a P/E ratio of 35.63, a P/E/G ratio of 1.65 and a beta of 0.50.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the business earned ($1.30) earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that Allstate will post 13.91 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, May 31st. Allstate’s dividend payout ratio is currently 81.24%.

Hedge Funds Weigh In On Allstate

Large investors have recently modified their holdings of the stock. SageView Advisory Group LLC bought a new position in shares of Allstate during the 4th quarter valued at approximately $456,000. Rafferty Asset Management LLC grew its position in Allstate by 5.7% in the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after acquiring an additional 4,987 shares during the last quarter. Ellsworth Advisors LLC bought a new position in Allstate in the 4th quarter valued at $4,312,000. SteelPeak Wealth LLC grew its position in Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after acquiring an additional 9,984 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Allstate in the 4th quarter valued at $5,927,000. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.