Allstate Corp (ALL) Given Consensus Rating of “Hold” by Brokerages
Allstate Corp (NYSE:ALL) has been assigned a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $96.00.
ALL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Allstate from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Goldman Sachs Group initiated coverage on shares of Allstate in a research note on Monday, December 4th. They issued a “neutral” rating and a $104.00 target price on the stock. UBS Group boosted their target price on shares of Allstate from $93.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Credit Suisse Group boosted their target price on shares of Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Finally, Wells Fargo & Co set a $105.00 target price on shares of Allstate and gave the company a “buy” rating in a research note on Thursday, October 19th.
Allstate (NYSE ALL) traded up $1.33 on Tuesday, reaching $102.11. 2,404,600 shares of the company’s stock were exchanged, compared to its average volume of 2,278,145. Allstate has a 1 year low of $73.39 and a 1 year high of $105.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $36,650.00, a P/E ratio of 14.18, a P/E/G ratio of 1.54 and a beta of 1.12.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.48 annualized dividend and a yield of 1.45%. Allstate’s dividend payout ratio (DPR) is 20.56%.
In related news, insider Suren Gupta sold 103,242 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 130,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $99.29, for a total transaction of $12,907,700.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 432,242 shares of company stock worth $42,827,931. 1.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board raised its holdings in Allstate by 3.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 491,833 shares of the insurance provider’s stock worth $45,204,000 after purchasing an additional 14,700 shares during the last quarter. Aperio Group LLC raised its holdings in Allstate by 16.4% during the 3rd quarter. Aperio Group LLC now owns 410,026 shares of the insurance provider’s stock worth $37,685,000 after purchasing an additional 57,713 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Allstate by 2.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,160 shares of the insurance provider’s stock worth $7,860,000 after purchasing an additional 1,700 shares during the last quarter. Toronto Dominion Bank raised its holdings in Allstate by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 137,390 shares of the insurance provider’s stock worth $12,627,000 after purchasing an additional 13,713 shares during the last quarter. Finally, BT Investment Management Ltd raised its holdings in Allstate by 2.5% during the 3rd quarter. BT Investment Management Ltd now owns 215,126 shares of the insurance provider’s stock worth $19,800,000 after purchasing an additional 5,268 shares during the last quarter. Institutional investors and hedge funds own 76.56% of the company’s stock.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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