Allstate Corporation (The) (NYSE:ALL) has been given an average rating of “Hold” by the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $90.25.

A number of research firms have recently commented on ALL. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research note on Saturday, June 24th. BidaskClub lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Deutsche Bank AG lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. Buckingham Research began coverage on Allstate Corporation (The) in a research note on Monday, September 11th. They issued an “underperform” rating and a $74.00 price objective on the stock. Finally, UBS AG reiterated a “neutral” rating and issued a $94.00 price objective (up from $86.00) on shares of Allstate Corporation (The) in a research note on Thursday, August 3rd.

In other Allstate Corporation (The) news, insider Harriet K. Harty sold 7,228 shares of Allstate Corporation (The) stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $88.35, for a total transaction of $638,593.80. Following the sale, the insider now directly owns 18,260 shares of the company’s stock, valued at $1,613,271. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew E. Winter sold 48,058 shares of Allstate Corporation (The) stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.54, for a total value of $4,255,055.32. The disclosure for this sale can be found here. Insiders have sold 150,830 shares of company stock worth $13,911,217 over the last 90 days. Corporate insiders own 1.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC boosted its holdings in Allstate Corporation (The) by 4.3% during the second quarter. Lord Abbett & CO. LLC now owns 2,535,112 shares of the insurance provider’s stock valued at $224,206,000 after purchasing an additional 104,536 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Allstate Corporation (The) by 25.5% during the second quarter. Toronto Dominion Bank now owns 123,677 shares of the insurance provider’s stock valued at $10,936,000 after purchasing an additional 25,110 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Allstate Corporation (The) by 1,349.4% during the second quarter. Archford Capital Strategies LLC now owns 32,176 shares of the insurance provider’s stock valued at $1,149,000 after purchasing an additional 29,956 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Allstate Corporation (The) by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 149,744 shares of the insurance provider’s stock valued at $13,243,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Allstate Corporation (The) by 10.8% during the second quarter. Advisory Services Network LLC now owns 2,798 shares of the insurance provider’s stock valued at $247,000 after purchasing an additional 273 shares in the last quarter. 76.13% of the stock is currently owned by institutional investors.

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Shares of Allstate Corporation (ALL) traded down 0.44% on Wednesday, reaching $90.48. The company had a trading volume of 1,913,990 shares. The firm has a market capitalization of $32.70 billion, a PE ratio of 13.36 and a beta of 1.09. The company has a 50-day moving average price of $91.89 and a 200-day moving average price of $86.58. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $95.25.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to analyst estimates 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 for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Equities research analysts forecast that Allstate Corporation will post $6.33 EPS for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 63% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.64%. Allstate Corporation (The)’s dividend payout ratio is 21.86%.

About Allstate Corporation (The)

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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