The Allstate Corporation (NYSE:ALL) Receives $230.73 Average Price Target from Analysts

Shares of The Allstate Corporation (NYSE:ALL) have been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $230.7333.

A number of analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 11th. 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. BMO Capital Markets lifted their price target on Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Morgan Stanley lifted their price target on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, William Blair assumed coverage on Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating for the company.

Institutional Trading of Allstate

A number of hedge funds have recently bought and sold shares of the company. Pathway Financial Advisers LLC lifted its position in Allstate by 4.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 5,627 shares of the insurance provider’s stock worth $1,133,000 after buying an additional 221 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Allstate in the 2nd quarter worth approximately $214,000. Advisory Services Network LLC lifted its position in Allstate by 1.1% in the 2nd quarter. Advisory Services Network LLC now owns 9,326 shares of the insurance provider’s stock worth $1,895,000 after buying an additional 105 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in Allstate in the 2nd quarter worth approximately $363,000. Finally, Geneos Wealth Management Inc. lifted its position in Allstate by 59.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,843 shares of the insurance provider’s stock worth $774,000 after buying an additional 1,433 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $202.97 on Friday. The company has a market cap of $53.49 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $199.31 and a 200-day moving average price of $199.21. Allstate has a 12-month low of $176.00 and a 12-month high of $214.76.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $1.61 EPS. As a group, equities analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate’s payout ratio is presently 18.81%.

Allstate Company Profile

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.