Allstate Corporation (The) (NYSE:ALL) had its target price cut by Citigroup Inc. from $107.00 to $106.00 in a research report sent to investors on Monday morning. They currently have a buy rating on the insurance provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company reiterated a buy rating on shares of Allstate Corporation (The) in a report on Thursday, July 20th. Barclays PLC lowered their target price on Allstate Corporation (The) from $101.00 to $92.00 and set an overweight rating for the company in a report on Monday, July 3rd. Buckingham Research started coverage on Allstate Corporation (The) in a report on Monday, September 11th. They set an underperform rating and a $74.00 target price for the company. Morgan Stanley reiterated an equal weight rating and set a $91.00 target price (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. Finally, Deutsche Bank AG cut Allstate Corporation (The) from a buy rating to a hold rating and increased their target price for the stock from $90.00 to $96.00 in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $90.50.

Allstate Corporation (ALL) opened at 92.86 on Monday. The firm has a 50-day moving average price of $91.10 and a 200-day moving average price of $87.48. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $95.25. The stock has a market cap of $33.56 billion, a P/E ratio of 13.72 and a beta of 1.08.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, equities research analysts predict that Allstate Corporation will post $5.93 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is 21.86%.

Allstate Corporation (The) declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 63% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, CFO Steven E. Shebik sold 35,197 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the transaction, the chief financial officer now owns 127,560 shares in the company, valued at approximately $12,026,356.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan L. Lees sold 12,288 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the completion of the transaction, the executive vice president now owns 73,511 shares of the company’s stock, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. Insiders sold a total of 143,602 shares of company stock valued at $13,272,624 in the last 90 days. 1.58% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ALL. BlackRock Inc. lifted its stake in Allstate Corporation (The) by 2,743.3% in the 1st quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after purchasing an additional 25,527,763 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Allstate Corporation (The) by 4,753.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,296,651 shares of the insurance provider’s stock valued at $203,116,000 after purchasing an additional 2,249,334 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Allstate Corporation (The) by 246.3% in the 1st quarter. Victory Capital Management Inc. now owns 2,080,446 shares of the insurance provider’s stock valued at $169,536,000 after purchasing an additional 1,479,694 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Allstate Corporation (The) by 249.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,827,612 shares of the insurance provider’s stock valued at $161,634,000 after purchasing an additional 1,304,131 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Allstate Corporation (The) by 480.2% in the 2nd quarter. Voya Investment Management LLC now owns 1,496,235 shares of the insurance provider’s stock valued at $132,328,000 after purchasing an additional 1,238,341 shares during the last quarter. Institutional investors own 76.13% of the company’s stock.

Allstate Corporation (The) Company Profile

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Analyst Recommendations for Allstate Corporation (The) (NYSE:ALL)

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