The Allstate Corporation (NYSE:ALL) Receives $263.90 Consensus Target Price from Brokerages

Shares of The Allstate Corporation (NYSE:ALLGet Free Report) have received an average recommendation of “Hold” from the twenty-two brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and four have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $263.90.

Several brokerages have issued reports on ALL. Evercore set a $240.00 price target on Allstate in a report on Friday, July 10th. The Goldman Sachs Group restated a “neutral” rating and set a $280.00 price objective on shares of Allstate in a report on Friday, August 7th. Roth Capital set a $300.00 target price on Allstate in a research report on Thursday, August 6th. Morgan Stanley set a $265.00 target price on Allstate in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald lifted their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th.

Read Our Latest Research Report on Allstate

Allstate Price Performance

Shares of NYSE ALL opened at $259.43 on Tuesday. The firm has a market capitalization of $65.60 billion, a P/E ratio of 5.18, a P/E/G ratio of 0.60 and a beta of 0.15. The firm’s 50-day moving average price is $256.91 and its 200-day moving average price is $228.76. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. Allstate has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALLGet Free Report) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same period last year, the business posted $5.94 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts anticipate that Allstate will post 35.5 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is presently 8.63%.

Trending Headlines about Allstate

Here are the key news stories impacting Allstate this week:

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Dugenske sold 32,996 shares of the business’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 sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by company insiders.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in Allstate by 24,845.7% during the second quarter. California State Teachers Retirement System now owns 97,055,726 shares of the insurance provider’s stock worth $23,093,439,000 after buying an additional 96,666,658 shares in the last quarter. BlackRock Inc. purchased a new stake in Allstate in the 2nd quarter valued at $5,439,448,000. Bank of America Corp DE bought a new position in Allstate during the 2nd quarter valued at $1,410,362,000. GQG Partners LLC bought a new position in Allstate during the 2nd quarter valued at $1,245,710,000. Finally, Deutsche Bank AG purchased a new position in Allstate during the 2nd quarter worth $1,008,648,000. 76.47% of the stock is owned by institutional investors.

Allstate Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Allstate (NYSE:ALL)

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