Allstate (NYSE:ALL) Rating Increased to Hold at Citigroup

Citigroup upgraded shares of Allstate (NYSE:ALL) to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

ALL has been the topic of several other reports. UBS Group upped their price target on shares of Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Tuesday, August 5th. Evercore ISI upped their price target on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, Barclays reiterated an “underweight” rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.33.

Allstate Stock Performance

Allstate stock opened at $206.76 on Wednesday. The company’s 50-day moving average price is $198.15 and its 200-day moving average price is $198.44. Allstate has a twelve month low of $176.00 and a twelve month high of $213.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market cap of $54.48 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.86 and a beta of 0.35.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 EPS. On average, equities research analysts forecast that Allstate will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s dividend payout ratio is presently 18.81%.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently modified their holdings of ALL. Brighton Jones LLC lifted its position in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate in the 4th quarter worth approximately $231,000. Townsquare Capital LLC lifted its position in shares of Allstate by 52.3% in the 4th quarter. Townsquare Capital LLC now owns 6,278 shares of the insurance provider’s stock worth $1,210,000 after purchasing an additional 2,155 shares during the period. Mariner LLC lifted its position in shares of Allstate by 8.0% in the 4th quarter. Mariner LLC now owns 66,371 shares of the insurance provider’s stock worth $12,796,000 after purchasing an additional 4,890 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Allstate by 18.5% in the 4th quarter. NewEdge Advisors LLC now owns 26,091 shares of the insurance provider’s stock worth $5,030,000 after purchasing an additional 4,082 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.