The Allstate Co. (NYSE:ALL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The Allstate Co. (NYSE:ALL) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $195.12.

ALL has been the subject of several recent research reports. Barclays initiated coverage on Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price target for the company. Roth Mkm restated a “buy” rating and set a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Keefe, Bruyette & Woods raised their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. The Goldman Sachs Group lifted their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen boosted their price objective on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd.

Allstate Stock Down 4.9 %

Allstate stock opened at $181.18 on Tuesday. The stock has a market capitalization of $47.82 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 1.81 and a beta of 0.48. The stock has a 50 day moving average of $183.18 and a two-hundred day moving average of $172.46. Allstate has a twelve month low of $112.42 and a twelve month high of $193.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same period in the prior year, the business posted ($4.42) EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts expect that Allstate will post 15.2 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Friday, August 30th. Allstate’s payout ratio is 81.24%.

Insider Activity

In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 238,305 shares of company stock worth $43,082,657 over the last three months. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Allstate

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in Allstate in the first quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate in the first quarter worth about $26,000. Versant Capital Management Inc raised its position in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the period. Family Firm Inc. bought a new stake in Allstate in the second quarter worth about $38,000. Finally, MCF Advisors LLC raised its position in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares during the period. Institutional investors own 76.47% of the company’s stock.

About Allstate

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.