Barclays Begins Coverage on Allstate (NYSE:ALL)

Barclays started coverage on shares of Allstate (NYSE:ALL) in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage issued an underweight rating and a $175.00 target price on the insurance provider’s stock.

Several other brokerages also recently commented on ALL. BMO Capital Markets boosted their target price on Allstate from $191.00 to $205.00 and gave the stock an outperform rating in a research note on Monday, August 5th. Roth Mkm reiterated a buy rating and set a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. Wells Fargo & Company cut their target price on shares of Allstate from $177.00 to $175.00 and set an equal weight rating on the stock in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $193.00 to $200.00 and gave the stock an overweight rating in a report on Thursday, July 11th. Finally, TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the company a buy rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Allstate currently has a consensus rating of Moderate Buy and a consensus target price of $192.76.

Allstate Stock Performance

NYSE ALL opened at $185.42 on Wednesday. Allstate has a 1 year low of $105.85 and a 1 year high of $191.33. The firm has a market capitalization of $48.94 billion, a price-to-earnings ratio of 40.93, a P/E/G ratio of 1.78 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm’s 50 day simple moving average is $173.77 and its 200 day simple moving average is $168.12.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the business posted ($4.42) EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, research analysts expect that Allstate will post 15.14 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. The disclosure for this sale can be found here. Insiders sold 201,938 shares of company stock valued at $36,122,740 over the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in shares of Allstate by 103.7% in the 4th quarter. Victory Capital Management Inc. now owns 166,495 shares of the insurance provider’s stock valued at $23,306,000 after buying an additional 84,741 shares during the period. Fisher Asset Management LLC acquired a new stake in Allstate in the fourth quarter valued at approximately $275,000. Accretive Wealth Partners LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $201,000. 9258 Wealth Management LLC raised its position in shares of Allstate by 10.9% during the fourth quarter. 9258 Wealth Management LLC now owns 10,034 shares of the insurance provider’s stock worth $1,405,000 after purchasing an additional 987 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of Allstate in the 4th quarter worth $259,000. 76.47% of the stock is owned by institutional investors.

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.