Allstate (NYSE:ALL) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Allstate (NYSE:ALL) from a hold rating to a buy rating in a research report released on Sunday morning.

ALL has been the topic of a number of other reports. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on Allstate from $235.00 to $237.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. William Blair started coverage on Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating on the stock. Finally, Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.07.

Allstate Stock Up 2.4%

ALL stock opened at $197.55 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $52.32 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.00 and a beta of 0.33. Allstate has a fifty-two week low of $162.27 and a fifty-two week high of $213.18. The stock has a fifty day moving average of $200.18 and a 200-day moving average of $196.73.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.13 earnings per share. As a group, equities research analysts predict that Allstate will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio is currently 27.32%.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently bought and sold shares of ALL. Rehmann Capital Advisory Group raised its position in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after purchasing an additional 51 shares during the period. Vantage Point Financial LLC raised its holdings in shares of Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after buying an additional 52 shares during the period. Confluence Wealth Services Inc. raised its holdings in shares of Allstate by 0.7% in the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after buying an additional 54 shares during the period. Linscomb Wealth Inc. raised its holdings in shares of Allstate by 1.3% in the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after buying an additional 54 shares during the period. Finally, Ancora Advisors LLC raised its holdings in shares of Allstate by 0.7% in the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.