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

Shares of The Allstate Co. (NYSE:ALL) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat 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 issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $174.88.

Several brokerages have commented on ALL. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 price objective on shares of Allstate in a research report on Friday, June 21st. Wells Fargo & Company raised their price target on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a report on Friday, May 10th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and raised their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd.

Institutional Investors Weigh In On Allstate

Large investors have recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Allstate during the 1st quarter valued at about $25,000. Rise Advisors LLC bought a new stake in shares of Allstate during the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the 1st quarter valued at about $26,000. Private Wealth Management Group LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $25,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $36,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

Shares of Allstate stock opened at $159.66 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $42.14 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.88 and a beta of 0.50. The business has a fifty day simple moving average of $165.87 and a two-hundred day simple moving average of $160.07. Allstate has a 12 month low of $100.57 and a 12 month high of $177.37.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted ($1.30) earnings per share. On average, equities analysts forecast that Allstate will post 12.15 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.30%. Allstate’s dividend payout ratio is currently 81.24%.

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.