Brokerages Set The Allstate Corporation (NYSE:ALL) PT at $237.94

The Allstate Corporation (NYSE:ALL) has been given a consensus rating of “Moderate Buy” by the twenty analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, seven have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $238.5294.

ALL has been the subject of a number of research reports. Mizuho dropped their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Keefe, Bruyette & Woods boosted their price target on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 price target (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th.

Allstate Stock Up 0.8%

ALL opened at $212.20 on Friday. Allstate has a fifty-two week low of $180.00 and a fifty-two week high of $216.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $55.07 billion, a P/E ratio of 5.56, a P/E/G ratio of 0.42 and a beta of 0.22. The stock has a fifty day moving average of $207.17 and a 200-day moving average of $205.29.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter last year, the firm earned $7.67 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Allstate will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Monday, March 2nd. Allstate’s payout ratio is presently 11.31%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares in the last quarter. GQG Partners LLC raised its stake in Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. raised its stake in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Boston Partners raised its stake in Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after purchasing an additional 88,620 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.