The Allstate Corporation (NYSE:ALL) Receives $241.67 Average PT from Brokerages

Shares of The Allstate Corporation (NYSE:ALL) have earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $241.6667.

ALL has been the topic of several analyst reports. Mizuho dropped their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Wells Fargo & Company raised their price target on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price target on shares of Allstate in a research report on Thursday, February 5th. Finally, Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here’s the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock

Allstate Stock Down 0.4%

ALL stock opened at $206.51 on Friday. The firm has a market cap of $53.16 billion, a PE ratio of 4.56, a P/E/G ratio of 0.37 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s fifty day moving average is $212.70 and its 200 day moving average is $208.55. Allstate has a one year low of $188.08 and a one year high of $227.62.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for 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 firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $3.53 earnings per share. On average, research analysts forecast that Allstate will post 29.11 EPS for the current year.

Allstate Dividend Announcement

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

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction 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 transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction 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 transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. Norges Bank purchased a new position in Allstate during the fourth quarter valued at $531,294,000. GQG Partners LLC lifted its holdings in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Allstate by 1,766.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after purchasing an additional 822,583 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in Allstate during the third quarter valued at $148,641,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.