Analysts Set The Allstate Corporation (NYSE:ALL) PT at $248.26

Shares of The Allstate Corporation (NYSE:ALL) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, six have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $254.80.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald boosted their price target on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Raymond James Financial upped their price target on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a report on Monday, July 6th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th.

Allstate Price Performance

NYSE ALL opened at $249.84 on Monday. Allstate has a 12 month low of $188.08 and a 12 month high of $257.67. The firm has a market capitalization of $64.31 billion, a PE ratio of 5.51, a P/E/G ratio of 0.42 and a beta of 0.16. The company’s 50 day simple moving average is $227.29 and its 200 day simple moving average is $214.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company posted $3.53 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Allstate will post 30.26 EPS for the current fiscal year.

Allstate Dividend Announcement

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

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALL. Norges Bank acquired a new position in Allstate in the 4th quarter worth about $531,294,000. GQG Partners LLC grew its stake in shares of Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after buying an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. increased its holdings in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after buying an additional 822,583 shares during the last quarter. Finally, Woodline Partners LP bought a new position in Allstate during the third quarter valued at approximately $148,641,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.