Zacks Investment Research downgraded shares of Allstate (NYSE:ALL) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “Allstate’s shares have outperformed the industry, year to date. The company is poised to grow on the back of its well-performing property and liability segment. A number of initiatives undertaken to improve profitability in the auto segment will drive long-term growth. A strong balance sheet and intelligent capital management are the other positives. The acquisition of SquareTrade will diversify the company's operations. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 7.2% upward over the last 60 days. Allstate is nevertheless faced with exposure to catastrophe losses, owing to its large property insurance business. The underperforming brand Encompass is another drag.”

Other research analysts also recently issued reports about the company. Buckingham Research assumed coverage on Allstate in a research note on Monday, September 11th. They issued an underperform rating and a $74.00 price objective on the stock. Wells Fargo & Company reissued a buy rating and issued a $105.00 price objective on shares of Allstate in a research note on Thursday, November 2nd. B. Riley reissued a neutral rating on shares of Allstate in a research note on Monday, November 6th. UBS cut their price objective on Allstate from $94.00 to $93.00 and set a neutral rating on the stock in a research note on Tuesday, September 19th. Finally, Credit Suisse Group raised their price objective on Allstate from $91.00 to $95.00 and gave the company a neutral rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $96.50.

Allstate (ALL) opened at $104.38 on Tuesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. Allstate has a one year low of $73.04 and a one year high of $105.14. The firm has a market capitalization of $37,375.32, a P/E ratio of 15.34, a P/E/G ratio of 2.01 and a beta of 1.12.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). Allstate had a net margin of 7.32% and a return on equity of 13.11%. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. research analysts predict that Allstate will post 6.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 20.56%.

In other news, insider Suren Gupta sold 103,242 shares of Allstate stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $98.68, for a total transaction of $10,187,920.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Susan L. Lees sold 4,000 shares of Allstate stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the sale, the executive vice president now directly owns 24,341 shares in the company, valued at approximately $2,446,027.09. The disclosure for this sale can be found here. Insiders sold a total of 432,242 shares of company stock worth $42,827,931 in the last ninety days. Insiders own 1.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its stake in Allstate by 0.4% in the 2nd 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 in the last quarter. Brighton Jones LLC boosted its stake in Allstate by 0.3% in the 2nd 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 in the last quarter. Sandy Spring Bank boosted its stake in Allstate by 2.5% in the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after buying an additional 28 shares in the last quarter. Ray Gerald L & Associates Ltd. boosted its stake in Allstate by 0.4% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 11,947 shares of the insurance provider’s stock valued at $1,057,000 after buying an additional 51 shares in the last quarter. Finally, First Business Financial Services Inc. boosted its stake in Allstate by 1.7% in the 2nd quarter. First Business Financial Services Inc. now owns 6,508 shares of the insurance provider’s stock valued at $576,000 after buying an additional 110 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

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About Allstate

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 (NYSE:ALL)

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