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

The Allstate Corporation (NYSE:ALL) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $231.4667.

A number of analysts have recently weighed in on ALL shares. Keefe, Bruyette & Woods increased their price objective on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Cantor Fitzgerald raised Allstate to a “hold” rating in a research note on Wednesday, August 13th. William Blair began coverage on Allstate in a report on Friday, June 6th. They set a “sector outperform” rating for the company. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Tuesday, August 5th. Finally, Barclays restated an “underweight” rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st.

Allstate Stock Performance

NYSE:ALL opened at $206.49 on Tuesday. The firm has a market cap of $54.41 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. Allstate has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The business has a 50 day moving average price of $201.84 and a 200-day moving average price of $200.56.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share 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 analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Equities research analysts predict that Allstate will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio is currently 18.81%.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arlington Trust Co LLC raised its holdings in shares of Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. Hughes Financial Services LLC bought a new position in Allstate in the first quarter worth $28,000. Clearstead Trust LLC raised its holdings in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares in the last quarter. Finally, Hilltop National Bank bought a new position in Allstate in the second quarter worth $34,000. Institutional investors own 76.47% of the company’s stock.

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.