The Allstate Corporation (NYSE:ALL) Stock Rated “Hold” by Wall Street Brokerages

Shares of The Allstate Corporation (NYSE:ALL) have been given a consensus recommendation of “Hold” by the twenty brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $264.00.

Several analysts have recently weighed in on ALL shares. The Goldman Sachs Group dropped their price target on shares of Allstate from $280.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Raymond James Financial reissued a “strong-buy” rating and set a $315.00 target price on shares of Allstate in a research note on Tuesday, August 11th. Finally, Citigroup decreased their price target on Allstate from $240.00 to $215.00 and set a “sell” rating on the stock in a research note on Friday.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.

Institutional Trading of Allstate

Several institutional investors have recently added to or reduced their stakes in ALL. BlackRock Inc. acquired a new position in Allstate during the second quarter worth $5,439,448,000. Bank of America Corp DE boosted its position in shares of Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after buying an additional 596,321 shares during the period. GQG Partners LLC acquired a new stake in shares of Allstate in the second quarter valued at $1,245,710,000. Franklin Resources Inc. grew its stake in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Allstate in the 2nd quarter valued at $1,008,648,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Down 0.3%

Shares of ALL stock opened at $223.83 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. Allstate has a twelve month low of $188.08 and a twelve month high of $277.22. The company’s 50-day moving average price is $253.66 and its 200-day moving average price is $233.18. The stock has a market cap of $56.60 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 0.50 and a beta of 0.13.

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. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period last year, the business earned $5.94 earnings per share. Allstate’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that Allstate will post 35.71 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, August 31st were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, August 31st. Allstate’s payout ratio is 8.63%.

About Allstate

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.