Allstate (NYSE:ALL) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Allstate (NYSE:ALL) from a buy rating to a hold rating in a report issued on Friday morning.

Several other analysts have also issued reports on the stock. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Barclays reduced their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price objective on Allstate from $240.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company increased their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $219.27.

Allstate Trading Up 0.2 %

NYSE ALL opened at $194.61 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $51.58 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.01 and a beta of 0.36. The stock’s 50-day simple moving average is $197.27 and its two-hundred day simple moving average is $194.34. Allstate has a twelve month low of $156.66 and a twelve month high of $212.91.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Research analysts forecast that Allstate will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has initiated a stock buyback plan on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is 23.54%.

Insider Transactions at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. VSM Wealth Advisory LLC purchased a new stake in Allstate during the 4th quarter valued at $25,000. Twin Tree Management LP purchased a new stake in Allstate in the 4th quarter worth approximately $27,000. Vision Financial Markets LLC bought a new position in shares of Allstate in the fourth quarter worth approximately $29,000. Hopwood Financial Services Inc. bought a new stake in shares of Allstate during the 4th quarter valued at $29,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Allstate during the 4th quarter valued at $29,000. 76.47% of the stock is owned by institutional investors.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.