The Allstate Corporation (NYSE:ALL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The Allstate Corporation (NYSE:ALL) have received an average rating of “Moderate Buy” from the twenty research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $238.6471.

A number of analysts have recently commented on the company. Mizuho cut their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Raymond James Financial restated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Barclays boosted their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 price objective on shares of Allstate in a research report on Thursday, March 5th.

Allstate Stock Up 1.0%

Shares of ALL stock opened at $216.36 on Wednesday. The stock has a 50 day moving average of $210.01 and a 200 day moving average of $205.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $55.87 billion, a P/E ratio of 5.67, a P/E/G ratio of 0.44 and a beta of 0.22. Allstate has a twelve month low of $188.08 and a twelve month high of $219.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $7.67 earnings per share. As a group, sell-side analysts expect that Allstate will post 25.82 EPS for the current year.

Allstate Increases Dividend

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

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MV Capital Management Inc. acquired a new stake in shares of Allstate in the fourth quarter worth approximately $25,000. Harbor Capital Advisors Inc. boosted its stake in shares of Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter worth approximately $27,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter worth approximately $27,000. Finally, Evolution Wealth Management Inc. boosted its stake in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.