The Allstate Co. (NYSE:ALL) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of The Allstate Co. (NYSE:ALL) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $191.94.

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. The Goldman Sachs Group increased their price objective on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday. Finally, BMO Capital Markets increased their price target on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, August 5th.

Allstate Stock Performance

Shares of ALL stock opened at $179.64 on Monday. Allstate has a 12 month low of $104.29 and a 12 month high of $184.30. The stock has a market cap of $47.41 billion, a PE ratio of 39.66, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average price is $166.45 and its 200-day moving average price is $165.55.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter in the previous year, the business posted ($4.42) EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts expect that Allstate will post 13.64 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.05%. Allstate’s dividend payout ratio is currently 81.24%.

Insider Activity

In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Allstate during the 4th quarter valued at about $212,771,000. Palestra Capital Management LLC purchased a new position in Allstate during the fourth quarter valued at approximately $83,561,000. Balyasny Asset Management L.P. purchased a new position in Allstate during the fourth quarter valued at approximately $81,571,000. Artemis Investment Management LLP bought a new position in shares of Allstate in the first quarter worth approximately $95,764,000. Finally, AQR Capital Management LLC increased its stake in shares of Allstate by 181.6% in the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after purchasing an additional 464,337 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

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.