The Allstate Corporation (NYSE:ALL) Given Consensus Recommendation of “Moderate Buy” by Analysts

The Allstate Corporation (NYSE:ALL) has earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, seven have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $240.3333.

ALL has been the subject of a number of research reports. Keefe, Bruyette & Woods cut Allstate from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $266.00 to $242.00 in a report on Monday, June 8th. Citigroup upped their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Wells Fargo & Company upped their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a report on Thursday.

Allstate Price Performance

ALL opened at $222.55 on Thursday. The stock has a 50-day moving average price of $216.11 and a 200-day moving average price of $209.32. Allstate has a 12-month low of $188.08 and a 12-month high of $227.62. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $57.29 billion, a P/E ratio of 4.91, a PEG ratio of 0.39 and a beta of 0.18.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the business earned $3.53 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts predict that Allstate will post 29.55 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 1.9%. Allstate’s dividend payout ratio is currently 9.53%.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock worth $4,851,560 in the last ninety days. 1.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allstate

Several institutional investors have recently bought and sold shares of ALL. Norges Bank purchased a new stake in Allstate during the 4th quarter valued at about $531,294,000. GQG Partners LLC boosted its holdings in Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares during the period. Franklin Resources Inc. raised its position in Allstate by 29.2% during the 4th 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 during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Allstate by 1,766.9% during the 4th 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 during the last quarter. Finally, Woodline Partners LP bought a new position in Allstate during the 3rd quarter valued at approximately $148,641,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Company Profile

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.