Investors Buy Shares of Allstate (ALL) on Weakness After Analyst Downgrade
Traders purchased shares of Allstate Corp (NYSE:ALL) on weakness during trading on Monday after Deutsche Bank lowered their price target on the stock from $102.00 to $100.00. $100.76 million flowed into the stock on the tick-up and $63.20 million flowed out of the stock on the tick-down, for a money net flow of $37.56 million into the stock. Of all companies tracked, Allstate had the 12th highest net in-flow for the day. Allstate traded down ($0.16) for the day and closed at $90.73
A number of other analysts have also issued reports on the company. Bank of America lowered their price target on Allstate from $116.00 to $111.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Co set a $100.00 price target on Allstate and gave the company a “hold” rating in a report on Thursday. ValuEngine upgraded Allstate from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Allstate from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods lowered Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $97.00.
In related news, EVP Susan L. Lees sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the transaction, the executive vice president now owns 24,341 shares of the company’s stock, valued at $2,446,027.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.
The stock has a market capitalization of $32,265.95, a PE ratio of 10.84, a PEG ratio of 1.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.25 and a quick ratio of 0.26.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.56. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.09 billion. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 earnings per share. sell-side analysts forecast that Allstate Corp will post 8.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.03%. Allstate’s dividend payout ratio is presently 17.68%.
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.
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