Allstate (NYSE:ALL) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Allstate (NYSE:ALL) from a hold rating to a buy rating in a research report report published on Monday morning.

A number of other equities research analysts also recently weighed in on the company. Cantor Fitzgerald boosted their price target on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Morgan Stanley raised their price objective on Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Citigroup lifted their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Barclays increased their target price on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a report on Tuesday, July 7th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $254.80.

Allstate Stock Performance

Shares of ALL stock opened at $253.73 on Monday. The stock has a market capitalization of $65.32 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.43 and a beta of 0.16. Allstate has a one year low of $188.08 and a one year high of $257.67. The company’s 50-day simple moving average is $228.09 and its 200-day simple moving average is $214.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the company earned $3.53 earnings per share. Allstate’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Allstate will post 30.4 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Allstate

Large investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its position in shares of Allstate by 0.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after purchasing an additional 50 shares during the last quarter. Compound Planning Inc. grew its holdings in Allstate by 1.6% during the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after purchasing an additional 50 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after purchasing an additional 52 shares during the period. Root Financial Partners LLC increased its position in Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock worth $243,000 after buying an additional 53 shares during the last quarter. Finally, L2 Asset Management LLC increased its position in Allstate by 4.7% in the third quarter. L2 Asset Management LLC now owns 1,223 shares of the insurance provider’s stock worth $263,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

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.