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

Shares of The Allstate Corporation (NYSE:ALL) have been assigned an average rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $241.6667.

Several research firms have recently weighed in on ALL. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. increased their price target 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. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Finally, Wells Fargo & Company increased their price target on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th.

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Institutional Trading of Allstate

Hedge funds have recently modified their holdings of the stock. MV Capital Management Inc. bought a new position in Allstate in the fourth quarter valued at approximately $25,000. Navalign LLC bought a new position in Allstate in the fourth quarter valued at approximately $27,000. Dorato Capital Management bought a new position in Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. boosted its stake in Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new position in Allstate in the third quarter valued at approximately $31,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

NYSE ALL opened at $207.46 on Friday. The firm has a market cap of $53.40 billion, a price-to-earnings ratio of 4.58, a PEG ratio of 0.38 and a beta of 0.21. The company has a 50 day moving average of $212.66 and a 200-day moving average of $208.57. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. Allstate has a 1-year low of $188.08 and a 1-year high of $227.62.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $3.53 earnings per share. On average, equities analysts forecast that Allstate will post 29.11 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is 9.53%.

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.