Brokerages Set The Allstate Co. (NYSE:ALL) PT at $217.19

The Allstate Co. (NYSE:ALL) has been given an average recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $217.19.

Several analysts have issued reports on the company. Raymond James boosted their price target on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Piper Sandler lifted their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, UBS Group raised their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Allstate Price Performance

Shares of NYSE:ALL opened at $193.40 on Friday. The firm’s 50 day moving average price is $195.44 and its 200-day moving average price is $181.94. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $51.21 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. Allstate has a twelve month low of $134.17 and a twelve month high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. Equities research analysts expect that Allstate will post 16.26 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.90%. Allstate’s dividend payout ratio (DPR) is 23.83%.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several large investors have recently modified their holdings of the stock. Eagle Asset Management Inc. boosted its stake in Allstate by 38.0% during the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after buying an additional 2,888 shares during the period. Bank of Montreal Can lifted its holdings in shares of Allstate by 1.7% in the 3rd quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock worth $128,758,000 after acquiring an additional 11,195 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Allstate during the 3rd quarter worth about $623,000. Hsbc Holdings PLC grew its holdings in Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after purchasing an additional 31,789 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Allstate by 33.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 58,381 shares of the insurance provider’s stock worth $9,321,000 after purchasing an additional 14,741 shares during the period. Institutional investors own 76.47% of the company’s stock.

About Allstate

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.