The Allstate Co. (NYSE:ALL) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of The Allstate Co. (NYSE:ALL) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $135.50.

Several analysts have commented on ALL shares. Jefferies Financial Group upped their target price on shares of Allstate from $117.00 to $119.00 in a research report on Friday, October 6th. Raymond James lifted their target price on Allstate from $145.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Monday, November 6th. Barclays reduced their price target on shares of Allstate from $113.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, August 14th. The Goldman Sachs Group increased their price objective on Allstate from $128.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Allstate from $162.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 2nd.

Hedge Funds Weigh In On Allstate

A number of large investors have recently made changes to their positions in ALL. Sei Investments Co. increased its position in Allstate by 40.2% during the first quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock worth $26,022,000 after acquiring an additional 53,824 shares during the period. Prudential PLC bought a new position in shares of Allstate during the first quarter worth approximately $1,325,000. Cetera Investment Advisers raised its position in shares of Allstate by 13.9% in the first quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock valued at $3,260,000 after buying an additional 2,874 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Allstate in the first quarter valued at approximately $270,000. Finally, Sequoia Financial Advisors LLC grew its position in Allstate by 36.2% during the first quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock worth $448,000 after buying an additional 860 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

Allstate Stock Performance

Shares of Allstate stock opened at $134.19 on Friday. The firm has a market cap of $35.12 billion, a P/E ratio of -16.92 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $120.38 and a 200 day simple moving average of $113.81. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $142.15.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, November 2nd. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.39 by $0.42. Allstate had a negative net margin of 3.51% and a negative return on equity of 10.95%. The company had revenue of $14.50 billion during the quarter, compared to analysts’ expectations of $12.78 billion. During the same quarter in the previous year, the company earned ($1.56) EPS. Allstate’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts predict that Allstate will post -2.16 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, November 29th. Allstate’s dividend payout ratio is presently -44.89%.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.