Zacks Investment Research upgraded shares of Allstate (NYSE:ALL) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $115.00 price target on the insurance provider’s stock.
According to Zacks, “Allstate’s shares have outperformed the industry, year to date. The company is poised to grow on the back of its well-performing property and liability segment. A number of initiatives undertaken to improve profitability in the auto segment will drive long-term growth. A strong balance sheet and intelligent capital management are the other positives. The acquisition of SquareTrade will diversify the company's operations. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 7.2% upward over the last 60 days. Allstate is nevertheless faced with exposure to catastrophe losses, owing to its large property insurance business. The underperforming brand Encompass is another drag.”
A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company reiterated a buy rating on shares of Allstate in a report on Thursday, August 17th. Buckingham Research initiated coverage on Allstate in a report on Monday, September 11th. They issued an underperform rating and a $74.00 price target for the company. B. Riley reiterated a neutral rating on shares of Allstate in a report on Monday, November 6th. BidaskClub downgraded Allstate from a buy rating to a hold rating in a report on Wednesday, August 16th. Finally, UBS lowered their price target on Allstate from $94.00 to $93.00 and set a neutral rating for the company in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Allstate currently has a consensus rating of Hold and a consensus price target of $96.50.
Shares of Allstate (ALL) opened at $103.97 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31. Allstate has a twelve month low of $73.04 and a twelve month high of $104.46. The stock has a market capitalization of $37,410.00, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12.
Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01). Allstate had a return on equity of 13.11% and a net margin of 7.32%. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Allstate’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities analysts anticipate that Allstate will post 6.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.48 dividend on an annualized basis and a yield of 1.42%. Allstate’s dividend payout ratio is currently 20.56%.
In related news, EVP Susan L. Lees sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $100.49, for a total transaction of $401,960.00. Following the completion of the transaction, the executive vice president now owns 24,341 shares in the company, valued at approximately $2,446,027.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $98.68, for a total value of $10,187,920.56. The disclosure for this sale can be found here. Insiders have sold a total of 432,242 shares of company stock valued at $42,827,931 in the last 90 days. Insiders own 1.58% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board boosted its position in Allstate by 3.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 491,833 shares of the insurance provider’s stock worth $45,204,000 after acquiring an additional 14,700 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Allstate during the 2nd quarter worth $1,671,000. State of Tennessee Treasury Department boosted its position in Allstate by 16.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 593,694 shares of the insurance provider’s stock worth $52,506,000 after acquiring an additional 85,026 shares during the period. Aperio Group LLC boosted its position in Allstate by 16.4% during the 3rd quarter. Aperio Group LLC now owns 410,026 shares of the insurance provider’s stock worth $37,685,000 after acquiring an additional 57,713 shares during the period. Finally, Toronto Dominion Bank boosted its position in Allstate by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 137,390 shares of the insurance provider’s stock worth $12,627,000 after acquiring an additional 13,713 shares during the period. Institutional investors own 76.65% of the company’s stock.
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Allstate Company Profile
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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