The Allstate Corporation (NYSE:ALL) Receives $227.07 Average PT from Brokerages

The Allstate Corporation (NYSE:ALL) has been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $227.07.

ALL has been the subject of several research reports. UBS Group increased their price target on shares of Allstate from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Evercore ISI increased their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company cut their price objective on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th.

Institutional Trading of Allstate

A number of institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its stake in shares of Allstate by 30.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock worth $2,352,000 after purchasing an additional 2,643 shares during the period. Richard Bernstein Advisors LLC bought a new position in shares of Allstate in the 1st quarter worth approximately $3,341,000. Dock Street Asset Management Inc. bought a new position in shares of Allstate in the 1st quarter worth approximately $207,000. First Citizens Bank & Trust Co. lifted its stake in shares of Allstate by 5.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider’s stock worth $11,906,000 after purchasing an additional 2,981 shares during the period. Finally, Blackstone Inc. bought a new position in shares of Allstate in the 4th quarter worth approximately $52,053,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.8%

Shares of Allstate stock opened at $192.29 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50-day moving average of $198.43 and a 200 day moving average of $196.97. The firm has a market cap of $50.92 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.01 and a beta of 0.33. Allstate has a 1 year low of $168.36 and a 1 year high of $213.18.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. Allstate’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $1.61 EPS. As a group, sell-side analysts anticipate that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 2.08%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s payout ratio is presently 27.32%.

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.