The Allstate Co. (NYSE:ALL) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of The Allstate Co. (NYSE:ALL) have earned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $218.13.

A number of analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Piper Sandler raised their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group raised their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th.

Hedge Funds Weigh In On Allstate

Large investors have recently made changes to their positions in the business. State Street Corp lifted its position in shares of Allstate by 1.1% in the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after buying an additional 126,922 shares in the last quarter. Geode Capital Management LLC raised its position in Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after purchasing an additional 74,537 shares during the period. Allspring Global Investments Holdings LLC raised its position in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the period. Raymond James & Associates raised its position in Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after purchasing an additional 145,986 shares during the period. Finally, Strategic Financial Concepts LLC raised its position in Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after purchasing an additional 1,111,748 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 0.6 %

Shares of Allstate stock opened at $192.60 on Monday. The stock has a fifty day simple moving average of $193.92 and a 200 day simple moving average of $188.46. Allstate has a 12-month low of $153.42 and a 12-month high of $209.88. The company has a market capitalization of $51.00 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.91%. Allstate’s payout ratio is 23.83%.

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.