The Allstate Corporation (NYSE:ALL) Receives $263.90 Average Target Price from Brokerages

Shares of The Allstate Corporation (NYSE:ALL) have been assigned a consensus recommendation of “Hold” from the twenty-two brokerages that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, five have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $263.90.

A number of equities research analysts have issued reports on the company. UBS Group upped their price objective on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Argus set a $238.00 target price on Allstate in a report on Friday, August 28th. Mizuho increased their price target on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $315.00 price objective on shares of Allstate in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC increased its stake in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Allstate in the 4th quarter valued at about $231,000. WINTON GROUP Ltd purchased a new stake in Allstate in the 2nd quarter valued at about $210,000. Treasurer of the State of North Carolina grew its stake in Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after acquiring an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC grew its stake in Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock worth $7,713,000 after acquiring an additional 6,412 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

ALL stock opened at $263.63 on Tuesday. Allstate has a 52 week low of $188.08 and a 52 week high of $277.22. The firm has a market capitalization of $66.66 billion, a P/E ratio of 5.26, a price-to-earnings-growth ratio of 0.60 and a beta of 0.15. The company has a fifty day simple moving average of $256.51 and a two-hundred day simple moving average of $228.55. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the firm posted $5.94 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts anticipate that Allstate will post 34.78 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is presently 8.63%.

Allstate Company Profile

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.