The Allstate Corporation (NYSE:ALL) Stock Has Average Target Price of $266.89 According to Analysts

Shares of The Allstate Corporation (NYSE:ALL) have received an average recommendation of “Hold” from the twenty-one research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $266.89.

ALL has been the topic of several analyst reports. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and upped their price target for the company from $244.00 to $264.00 in a report on Monday, July 6th. Argus set a $238.00 price objective on shares of Allstate in a research note on Friday, August 28th. JPMorgan Chase & Co. boosted their target price on Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald raised their price target on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th.

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of hedge funds have recently added to or reduced their stakes in the stock. MV Capital Management Inc. purchased a new stake in shares of Allstate in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. purchased a new position in Allstate during the 2nd quarter worth $26,000. Kelleher Financial Advisors purchased a new position in Allstate during the 2nd quarter worth $28,000. Evolution Wealth Management Inc. raised its position in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Allied Private Wealth LLC bought a new stake in Allstate during the 2nd quarter valued at $29,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Down 0.2%

NYSE ALL opened at $227.22 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $256.12 and a two-hundred day moving average of $232.86. The firm has a market capitalization of $57.45 billion, a price-to-earnings ratio of 4.54, a PEG ratio of 0.51 and a beta of 0.15. Allstate has a 52 week low of $188.08 and a 52 week high of $277.22.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.94 earnings per share. On average, analysts predict that Allstate will post 35.76 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

About Allstate

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.