Investors Buy Shares of Allstate (ALL) on Weakness on Analyst Downgrade

Traders purchased shares of Allstate Corp (NYSE:ALL) on weakness during trading hours on Monday after Deutsche Bank lowered their price target on the stock from $102.00 to $100.00. $100.76 million flowed into the stock on the tick-up and $63.20 million flowed out of the stock on the tick-down, for a money net flow of $37.56 million into the stock. Of all companies tracked, Allstate had the 12th highest net in-flow for the day. Allstate traded down ($0.16) for the day and closed at $90.73

ALL has been the topic of a number of other reports. Wells Fargo & Co restated a “buy” rating and issued a $105.00 price target on shares of Allstate in a research note on Thursday, November 2nd. ValuEngine upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group raised their price target on Allstate from $91.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Allstate from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research note on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods downgraded Allstate from a “market perform” rating to an “underperform” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $97.00.

In related news, EVP Susan L. Lees sold 4,000 shares of Allstate stock in a transaction 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 transaction, the executive vice president now directly owns 24,341 shares in the company, valued at $2,446,027.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. Arrow Financial Corp raised its holdings in Allstate by 100.0% during the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 553 shares during the period. Financial Engines Advisors L.L.C. bought a new stake in Allstate during the third quarter valued at about $116,000. Baker Ellis Asset Management LLC bought a new stake in Allstate during the third quarter valued at about $120,000. Rational Advisors LLC bought a new stake in Allstate during the fourth quarter valued at about $126,000. Finally, Taylor Hoffman Wealth Management bought a new stake in Allstate during the fourth quarter valued at about $131,000. Institutional investors own 76.49% of the company’s stock.

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.25. The stock has a market capitalization of $32,265.95, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.33 and a beta of 0.97.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.56. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $2.17 earnings per share. sell-side analysts expect that Allstate Corp will post 8.21 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 2nd. This is a boost from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a yield of 2.03%. Allstate’s dividend payout ratio (DPR) is currently 17.68%.

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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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