The Allstate Corporation (NYSE:ALL) Receives $236.93 Consensus Target Price from Analysts

The Allstate Corporation (NYSE:ALL) has earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $236.9286.

Several equities research analysts recently weighed in on ALL shares. Keefe, Bruyette & Woods boosted their target price on Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Mizuho began coverage on shares of Allstate in a research note on Monday, December 15th. They issued an “outperform” rating and a $254.00 price objective for the company. Wall Street Zen downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Wells Fargo & Company lifted their target price on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Finally, Morgan Stanley restated an “equal weight” rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th.

Allstate Stock Up 0.4%

Allstate stock opened at $208.60 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. Allstate has a 1-year low of $176.00 and a 1-year high of $215.89. The firm’s fifty day simple moving average is $204.55 and its 200-day simple moving average is $202.67. The company has a market capitalization of $54.59 billion, a P/E ratio of 6.75, a P/E/G ratio of 0.38 and a beta of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the prior year, the company posted $3.91 earnings per share. Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate’s dividend payout ratio is presently 12.95%.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 3,786 shares of Allstate stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $215.13, for a total value of $814,482.18. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,651,973.98. The trade was a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 28,807 shares of company stock valued at $6,198,726. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. Brighton Jones LLC increased its holdings in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Allstate during the fourth quarter worth about $231,000. Ieq Capital LLC increased its stake in Allstate by 87.1% during the first quarter. Ieq Capital LLC now owns 31,904 shares of the insurance provider’s stock valued at $6,607,000 after acquiring an additional 14,856 shares during the period. Guggenheim Capital LLC raised its holdings in Allstate by 11.0% in the 1st quarter. Guggenheim Capital LLC now owns 46,196 shares of the insurance provider’s stock valued at $9,566,000 after acquiring an additional 4,584 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in Allstate by 52.3% in the 1st quarter. Transamerica Financial Advisors LLC now owns 908 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 312 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.