Allstate Corp. (NYSE:ALL) Receives GBX 72.80 Consensus Target Price from Brokerages
Allstate Corp. (NYSE:ALL) has been given an average rating of “Buy” by the seventeen research firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is GBX 72.80 ($0.95).
Several brokerages recently commented on ALL. Credit Suisse Group AG set a $73.00 target price on Allstate Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. MKM Partners reissued a “buy” rating on shares of Allstate Corp. in a report on Thursday, June 16th. Argus reissued a “buy” rating and set a $76.00 price objective on shares of Allstate Corp. in a report on Friday, September 2nd. William Blair reissued an “underperform” rating on shares of Allstate Corp. in a report on Saturday, September 10th. Finally, Barclays PLC reissued an “overweight” rating and set a $79.00 price objective (up from $74.00) on shares of Allstate Corp. in a report on Friday, September 30th.
Allstate Corp. (NYSE:ALL) opened at 68.43 on Thursday. The company has a market cap of $25.42 billion, a price-to-earnings ratio of 17.23 and a beta of 0.95. The company has a 50-day moving average of $68.48 and a 200-day moving average of $67.87. Allstate Corp. has a 12 month low of $56.03 and a 12 month high of $70.38.
Allstate Corp. (NYSE:ALL) last issued its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm earned $9.16 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Allstate Corp. had a return on equity of 9.94% and a net margin of 4.63%. Allstate Corp.’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. Analysts predict that Allstate Corp. will post $4.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Wednesday, August 31st were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.93%. Allstate Corp.’s payout ratio is 33.59%.
In related news, EVP Sanjay Gupta sold 9,137 shares of Allstate Corp. stock in a transaction dated Monday, July 11th. The stock was sold at an average price of GBX 70 ($0.91), for a total value of £6,395.90 ($8,348.65). The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Harriet K. Harty sold 6,779 shares of Allstate Corp. stock in a transaction dated Friday, August 5th. The stock was sold at an average price of GBX 68.64 ($0.90), for a total value of £4,653.11 ($6,073.76). Following the completion of the sale, the insider now owns 12,316 shares of the company’s stock, valued at £8,453.70 ($11,034.72). The disclosure for this sale can be found here. 1.58% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC raised its stake in shares of Allstate Corp. by 0.4% in the second quarter. Evercore Wealth Management LLC now owns 4,264 shares of the company’s stock worth $298,000 after buying an additional 15 shares during the last quarter. Evanson Asset Management LLC raised its position in Allstate Corp. by 0.3% in the second quarter. Evanson Asset Management LLC now owns 5,165 shares of the company’s stock valued at $361,000 after buying an additional 16 shares during the last quarter. WealthTrust Axiom LLC raised its position in Allstate Corp. by 1.0% in the second quarter. WealthTrust Axiom LLC now owns 3,878 shares of the company’s stock valued at $271,000 after buying an additional 37 shares during the last quarter. Pillar Pacific Capital Management LLC raised its position in Allstate Corp. by 1.2% in the second quarter. Pillar Pacific Capital Management LLC now owns 3,379 shares of the company’s stock valued at $236,000 after buying an additional 39 shares during the last quarter. Finally, Gerstein Fisher raised its position in Allstate Corp. by 1.4% in the second quarter. Gerstein Fisher now owns 3,036 shares of the company’s stock valued at $212,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.
Allstate Corp. Company Profile
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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