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

The Allstate Co. (NYSE:ALL) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $218.06.

ALL has been the subject of a number of recent research reports. The Goldman Sachs Group upped their target price on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group upped their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $243.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Raymond James upped their price target on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th.

Allstate Price Performance

Shares of ALL opened at $182.63 on Thursday. Allstate has a 12-month low of $150.17 and a 12-month high of $209.88. The business has a 50-day simple moving average of $195.85 and a two-hundred day simple moving average of $185.88. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market cap of $48.36 billion, a PE ratio of 11.83, a PEG ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts anticipate that Allstate will post 16.26 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 2.02%. Allstate’s payout ratio is currently 23.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Pathway Financial Advisers LLC boosted its holdings in 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 acquiring an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Allstate by 181.6% in the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after purchasing an additional 464,337 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Allstate in the third quarter worth approximately $77,819,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Allstate by 688.4% in the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock worth $87,292,000 after purchasing an additional 401,901 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

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.