Weekly Investment Analysts’ Ratings Updates for Allstate (ALL)

Allstate (NYSE: ALL) recently received a number of ratings updates from brokerages and research firms:

• 4/11/2024 – Allstate had its price target raised by analysts at Wells Fargo & Company from $145.00 to $146.00. They now have an “underweight” rating on the stock.
• 4/11/2024 – Allstate had its price target raised by analysts at Evercore ISI from $166.00 to $173.00. They now have an “in-line” rating on the stock.
• 4/10/2024 – Allstate had its price target raised by analysts at Keefe, Bruyette & Woods from $181.00 to $189.00. They now have an “outperform” rating on the stock.
• 4/8/2024 – Allstate had its price target raised by analysts at JPMorgan Chase & Co. from $172.00 to $185.00. They now have an “overweight” rating on the stock.
• 4/8/2024 – Allstate had its price target raised by analysts at Roth Mkm from $175.00 to $200.00. They now have a “buy” rating on the stock.
• 4/1/2024 – Allstate had its price target raised by analysts at Piper Sandler from $172.00 to $188.00. They now have an “overweight” rating on the stock.
• 3/28/2024 – Allstate was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating. They now have a $190.00 price target on the stock, up previously from $158.00.
• 3/25/2024 – Allstate had its price target raised by analysts at The Goldman Sachs Group, Inc. from $164.00 to $195.00. They now have a “buy” rating on the stock.
• 2/14/2024 – Allstate had its price target raised by analysts at Keefe, Bruyette & Woods from $171.00 to $181.00. They now have an “outperform” rating on the stock.
• 2/12/2024 – Allstate had its price target raised by analysts at UBS Group AG from $171.00 to $185.00. They now have a “buy” rating on the stock.

Allstate Price Performance

Shares of NYSE ALL traded down $2.47 during midday trading on Thursday, hitting $167.28. 464,544 shares of the company’s stock were exchanged, compared to its average volume of 1,687,550. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $174.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The company has a market cap of $44.01 billion, a price-to-earnings ratio of -134.90, a PEG ratio of 0.43 and a beta of 0.52. The business’s fifty day moving average price is $162.66 and its two-hundred day moving average price is $144.62.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. During the same quarter in the previous year, the firm earned ($1.36) earnings per share. Allstate’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that The Allstate Co. will post 13.3 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.20%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio is currently -296.77%.

Insiders Place Their Bets

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Allstate

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after buying an additional 3,322,673 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 123.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after acquiring an additional 3,064,105 shares during the period. Cowa LLC bought a new position in Allstate in the first quarter valued at about $30,000. Norges Bank bought a new position in Allstate in the fourth quarter valued at about $212,771,000. Finally, Invesco Ltd. lifted its holdings in Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after acquiring an additional 1,311,095 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.