Allstate’s (ALL) “Hold” Rating Reiterated at Argus

Argus reiterated their hold rating on shares of Allstate (NYSE:ALL) in a research report report published on Friday, Marketbeat.com reports.

ALL has been the topic of a number of other reports. Piper Sandler raised their price target on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Morgan Stanley set a $265.00 price objective on Allstate in a research report on Tuesday, August 11th. Weiss Ratings downgraded Allstate from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday, August 25th. Citigroup cut Allstate from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $226.00 to $240.00 in a research note on Tuesday, August 11th. Finally, Roth Capital set a $300.00 price target on Allstate in a report on Thursday, August 6th. Four analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Allstate currently has an average rating of “Hold” and an average price target of $263.90.

Allstate Trading Up 0.2%

Shares of NYSE:ALL opened at $261.17 on Friday. Allstate has a 52 week low of $188.08 and a 52 week high of $277.22. The company’s 50 day moving average is $254.14 and its two-hundred day moving average is $227.00. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a market cap of $66.04 billion, a PE ratio of 5.22, a P/E/G ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.94 EPS. Equities analysts predict that Allstate will post 34.45 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Insider Activity

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

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new stake in Allstate in the 4th quarter valued at $25,000. Gables Capital Management Inc. purchased a new position in Allstate during the 2nd quarter worth $26,000. Navalign LLC purchased a new position in Allstate during the 4th quarter worth $27,000. Kelleher Financial Advisors acquired a new position in Allstate in the second quarter valued at $28,000. Finally, Evolution Wealth Management Inc. increased its stake in Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.