The Allstate Corporation (NYSE:ALL) Receives $239.35 Average PT from Analysts

Shares of The Allstate Corporation (NYSE:ALL) have earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $239.3529.

Several research firms have recently weighed in on ALL. Wells Fargo & Company boosted their price objective on shares of Allstate from $223.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. UBS Group raised their price target on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Evercore set a $225.00 price objective on Allstate in a research report on Wednesday, January 7th.

Allstate Stock Up 2.3%

ALL stock opened at $212.31 on Friday. The stock has a market capitalization of $55.56 billion, a P/E ratio of 5.56, a P/E/G ratio of 0.44 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43. Allstate has a 1-year low of $176.00 and a 1-year high of $216.75. The business has a fifty day moving average price of $203.90 and a 200-day moving average price of $204.36.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping the consensus estimate of $8.72 by $5.59. The company had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the company earned $7.67 EPS. Equities analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is currently 11.31%.

Insider Activity

In other Allstate news, insider Suren Gupta sold 21,871 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 46,600 shares of company stock valued at $9,926,140 over the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Allstate

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. boosted its position in Allstate by 3.1% in the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after buying an additional 704 shares during the last quarter. Truist Financial Corp lifted its stake in Allstate by 4.7% during the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock valued at $26,501,000 after acquiring an additional 5,542 shares during the period. Commonwealth Retirement Investments LLC boosted its holdings in shares of Allstate by 103.5% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after acquiring an additional 6,590 shares during the last quarter. Davis Capital Management purchased a new stake in shares of Allstate in the 3rd quarter valued at $2,767,000. Finally, First Horizon Corp acquired a new stake in shares of Allstate in the third quarter worth $11,109,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.