Allstate Corp (ALL) Given Consensus Recommendation of “Buy” by Analysts
Allstate Corp (NYSE:ALL) has been given an average recommendation of “Buy” by the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $84.50.
A number of equities analysts have recently commented on ALL shares. Credit Suisse Group AG reissued a “hold” rating and issued a $80.00 price target on shares of Allstate Corp in a research report on Sunday, February 5th. Zacks Investment Research raised shares of Allstate Corp from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Monday, February 6th. Keefe, Bruyette & Woods lowered shares of Allstate Corp from an “outperform” rating to a “market perform” rating and set a $81.00 target price on the stock. in a research report on Wednesday, March 1st. FBR & Co boosted their target price on shares of Allstate Corp from $70.00 to $82.00 and gave the stock a “mkt perform” rating in a research report on Monday, April 3rd. Finally, Citigroup Inc boosted their target price on shares of Allstate Corp from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, April 7th.
Allstate Corp (NYSE:ALL) traded up 0.22% on Monday, reaching $86.86. 125,565 shares of the company’s stock were exchanged. Allstate Corp has a 12 month low of $65.27 and a 12 month high of $86.94. The firm has a 50 day moving average of $83.71 and a 200 day moving average of $78.66. The stock has a market capitalization of $31.66 billion, a PE ratio of 14.73 and a beta of 0.96.
Allstate Corp (NYSE:ALL) last released its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.60. Allstate Corp had a net margin of 7.32% and a return on equity of 13.97%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.36 billion. Equities analysts predict that Allstate Corp will post $6.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Monday, June 5th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. Allstate Corp’s dividend payout ratio is currently 28.09%.
In other Allstate Corp news, VP Samuel H. Pilch sold 8,582 shares of Allstate Corp stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $83.88, for a total transaction of $719,858.16. Following the sale, the vice president now owns 35,875 shares in the company, valued at $3,009,195. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gupta sold 16,798 shares of Allstate Corp stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $86.00, for a total transaction of $1,444,628.00. Following the sale, the insider now owns 65,798 shares in the company, valued at approximately $5,658,628. The disclosure for this sale can be found here. Insiders have sold 131,249 shares of company stock worth $10,902,217 in the last quarter. Corporate insiders own 1.58% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Watermark Asset Management Inc. acquired a new stake in Allstate Corp during the first quarter worth $170,000. Sowell Financial Services LLC increased its stake in Allstate Corp by 6.2% in the first quarter. Sowell Financial Services LLC now owns 3,541 shares of the insurance provider’s stock worth $304,000 after buying an additional 206 shares in the last quarter. Piedmont Investment Advisors LLC increased its stake in Allstate Corp by 1.1% in the first quarter. Piedmont Investment Advisors LLC now owns 103,588 shares of the insurance provider’s stock worth $8,441,000 after buying an additional 1,107 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Allstate Corp during the first quarter worth $4,704,000. Finally, Ballentine Partners LLC acquired a new stake in Allstate Corp during the first quarter worth $448,000. Hedge funds and other institutional investors own 76.44% of the company’s stock.
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Allstate Corp Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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