Barclays Issues Pessimistic Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL) had its price objective reduced by Barclays from $187.00 to $183.00 in a research note issued to investors on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the insurance provider’s stock.

Several other research firms have also recently weighed in on ALL. Bank of America increased their price target on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group raised their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Piper Sandler upped their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group upped their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.94.

Allstate Trading Down 3.1 %

Allstate stock opened at $185.44 on Monday. Allstate has a one year low of $148.23 and a one year high of $209.88. The business’s fifty day moving average is $195.78 and its 200 day moving average is $184.96. The stock has a market capitalization of $49.11 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

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

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.98%. Allstate’s payout ratio is 23.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC increased its holdings in shares of Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares in the last quarter. AQR Capital Management LLC lifted its position in Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after purchasing an additional 464,337 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Allstate in the 3rd quarter worth $77,819,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after buying an additional 405,553 shares during the last quarter. 76.47% of the stock is currently 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.