Allstate’s (ALL) “Hold” Rating Reiterated at TD Cowen

TD Cowen reissued their hold rating on shares of Allstate (NYSE:ALL) in a report released on Monday morning, Marketbeat reports. The brokerage currently has a $231.00 price objective on the insurance provider’s stock, up from their previous price objective of $224.00.

ALL has been the topic of several other reports. Roth Capital raised their price objective on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $250.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Morgan Stanley reissued an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Finally, UBS Group upped their target price on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.19.

Allstate Price Performance

NYSE:ALL opened at $196.23 on Monday. The business’s 50-day moving average is $207.76 and its 200 day moving average is $203.47. Allstate has a 12 month low of $176.00 and a 12 month high of $215.89. The company has a market capitalization of $51.35 billion, a P/E ratio of 6.35, a P/E/G ratio of 0.44 and a beta of 0.24. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The business had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.91 EPS. On average, equities research analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, December 1st. Allstate’s payout ratio is 12.95%.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 21,871 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 48,400 shares of company stock worth $10,313,256. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently modified their holdings of the stock. Guerra Pan Advisors LLC grew its position in Allstate by 1.5% during the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 49 shares during the last quarter. South Plains Financial Inc. lifted its stake in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after buying an additional 49 shares during the period. Humankind Investments LLC lifted its stake in shares of Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after buying an additional 51 shares during the period. Focus Financial Network Inc. grew its holdings in shares of Allstate by 1.1% during the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after buying an additional 52 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Allstate by 4.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 53 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.