The Allstate Corporation (NYSE:ALL) Receives $237.94 Average Target Price from Analysts

Shares of The Allstate Corporation (NYSE:ALL) have been given a consensus rating of “Moderate Buy” by the twenty research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and four have given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $237.9412.

A number of brokerages have recently issued reports on ALL. William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Evercore set a $225.00 price objective on shares of Allstate in a research note on Wednesday, January 7th. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, February 20th.

Allstate Stock Up 0.6%

NYSE:ALL opened at $208.25 on Friday. The firm’s 50 day simple moving average is $206.57 and its 200 day simple moving average is $205.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. Allstate has a one year low of $176.00 and a one year high of $216.75. The company has a market cap of $54.05 billion, a PE ratio of 5.45, a P/E/G ratio of 0.42 and a beta of 0.22.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.67 EPS. On average, research analysts anticipate that Allstate will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were paid a $1.08 dividend. The ex-dividend date was Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is presently 11.31%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently bought and sold shares of ALL. Norges Bank bought a new stake in shares of Allstate in the 4th quarter worth $531,294,000. GQG Partners LLC grew its stake in shares of Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after acquiring an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after acquiring an additional 1,131,172 shares in the last quarter. Swedbank AB increased its stake in Allstate by 2,157.8% in the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after buying an additional 823,559 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after buying an additional 822,583 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

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.