Allstate (ALL) Downgraded by Wells Fargo & Co to Market Perform
Wells Fargo & Co lowered shares of Allstate (NYSE:ALL) from an outperform rating to a market perform rating in a report released on Tuesday, Marketbeat Ratings reports.
Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Allstate from a hold rating to a buy rating and set a $114.00 price objective for the company in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods cut shares of Allstate from a market perform rating to an underperform rating in a research note on Tuesday, January 2nd. Goldman Sachs Group initiated coverage on shares of Allstate in a research note on Monday, December 4th. They issued a neutral rating and a $104.00 target price on the stock. B. Riley reiterated a neutral rating on shares of Allstate in a research note on Monday, November 6th. Finally, UBS Group increased their target price on shares of Allstate from $93.00 to $102.00 and gave the stock a neutral rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $96.43.
Allstate (ALL) traded down $0.51 on Tuesday, reaching $100.43. 2,463,500 shares of the company traded hands, compared to its average volume of 1,870,000. The company has a market cap of $36,040.00, a P/E ratio of 13.95, a PEG ratio of 1.62 and a beta of 1.12. Allstate has a 52 week low of $73.13 and a 52 week high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 20.56%.
In other news, Chairman Thomas J. Wilson sold 195,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $99.13, for a total transaction of $19,330,350.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Susan L. Lees sold 4,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $100.49, for a total transaction of $401,960.00. Following the sale, the executive vice president now owns 24,341 shares in the company, valued at approximately $2,446,027.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 432,242 shares of company stock worth $42,827,931. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of ALL. Neuberger Berman Group LLC raised its position in shares of Allstate by 14.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 47,178 shares of the insurance provider’s stock valued at $4,172,000 after buying an additional 5,998 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Allstate by 41.7% during the 2nd quarter. Schroder Investment Management Group now owns 12,012 shares of the insurance provider’s stock valued at $1,059,000 after buying an additional 3,535 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Allstate during the 2nd quarter valued at $1,335,000. CIBC World Markets Inc. raised its position in Allstate by 48.3% in the 2nd quarter. CIBC World Markets Inc. now owns 27,017 shares of the insurance provider’s stock worth $2,389,000 after purchasing an additional 8,800 shares during the period. Finally, Franklin Resources Inc. raised its position in Allstate by 1.4% in the 2nd quarter. Franklin Resources Inc. now owns 140,029 shares of the insurance provider’s stock worth $12,384,000 after purchasing an additional 1,949 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.
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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