BidaskClub cut shares of Allstate Corporation (The) (NYSE:ALL) from a buy rating to a hold rating in a research report sent to investors on Monday, July 31st.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company reissued a buy rating on shares of Allstate Corporation (The) in a research note on Thursday, July 20th. Citigroup Inc. boosted their target price on Allstate Corporation (The) from $97.00 to $102.00 and gave the company a buy rating in a research note on Thursday, July 13th. Morgan Stanley reissued an equal weight rating and issued a $91.00 target price (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Barclays PLC decreased their target price on Allstate Corporation (The) from $101.00 to $92.00 and set an overweight rating for the company in a research note on Monday, July 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $88.00 price objective on shares of Allstate Corporation (The) in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $90.54.

Shares of Allstate Corporation (ALL) traded down 0.22% on Monday, reaching $93.95. The company had a trading volume of 1,111,370 shares. Allstate Corporation has a one year low of $66.55 and a one year high of $94.70. The firm has a market cap of $33.95 billion, a P/E ratio of 13.88 and a beta of 1.10. The company has a 50-day moving average price of $90.23 and a 200-day moving average price of $84.36.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.48. The business had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, analysts expect that Allstate Corporation will post $6.50 earnings per share for the current fiscal year.

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Allstate Corporation (The) declared that its board has authorized a stock buyback program on Tuesday, August 1st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 63% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.

In other Allstate Corporation (The) news, insider Harriet K. Harty sold 7,228 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $88.35, for a total transaction of $638,593.80. Following the sale, the insider now owns 18,260 shares of the company’s stock, valued at approximately $1,613,271. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matthew E. Winter sold 33,957 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $84.38, for a total transaction of $2,865,291.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,162 shares of company stock valued at $19,450,439. Corporate insiders own 1.58% of the company’s stock.

A number of large investors have recently modified their holdings of ALL. Jackson Grant Investment Advisers Inc. boosted its position in Allstate Corporation (The) by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after buying an additional 5 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Allstate Corporation (The) by 0.3% in the second quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock valued at $273,000 after buying an additional 9 shares during the last quarter. Brighton Jones LLC boosted its position in Allstate Corporation (The) by 0.3% in the second quarter. Brighton Jones LLC now owns 3,313 shares of the insurance provider’s stock valued at $293,000 after buying an additional 10 shares during the last quarter. Intrust Bank NA boosted its position in Allstate Corporation (The) by 0.3% in the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock valued at $615,000 after buying an additional 23 shares during the last quarter. Finally, CAPROCK Group Inc. boosted its position in Allstate Corporation (The) by 0.6% in the first quarter. CAPROCK Group Inc. now owns 4,567 shares of the insurance provider’s stock valued at $372,000 after buying an additional 28 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Allstate Corporation (The) 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.

Analyst Recommendations for Allstate Corporation (The) (NYSE:ALL)

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