The Allstate Corporation (NYSE:ALL) Given Average Recommendation of “Hold” by Analysts

The Allstate Corporation (NYSE:ALL) has been assigned an average recommendation of “Hold” from the twenty-two ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and four have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $263.90.

Several analysts have issued reports on ALL shares. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $250.00 price target (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Citigroup downgraded Allstate from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $226.00 to $240.00 in a research report on Tuesday, August 11th. Argus set a $238.00 target price on Allstate in a research note on Friday, August 28th. Piper Sandler increased their target price on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $243.00 to $250.00 in a research report on Friday, August 7th.

Insider Activity

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On Allstate

Institutional investors have recently bought and sold shares of the stock. Gables Capital Management Inc. purchased a new position in shares of Allstate in the 2nd quarter worth about $26,000. Allied Private Wealth LLC purchased a new stake in shares of Allstate during the 2nd quarter worth about $29,000. Kelleher Financial Advisors acquired a new stake in Allstate during the 2nd quarter worth approximately $28,000. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth approximately $25,000. Finally, Navalign LLC purchased a new position in Allstate in the fourth quarter valued at approximately $27,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

NYSE ALL opened at $259.43 on Tuesday. The business has a 50 day moving average price of $257.28 and a 200 day moving average price of $229.24. The company has a market capitalization of $65.60 billion, a P/E ratio of 5.18, a PEG ratio of 0.58 and a beta of 0.15. Allstate has a 1-year low of $188.08 and a 1-year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $5.94 earnings per share. Sell-side analysts expect that Allstate will post 35.5 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

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.