Traders purchased shares of Allstate Corp (NYSE:ALL) on weakness during trading hours on Thursday after Morgan Stanley lowered their price target on the stock from $113.00 to $105.00. $71.27 million flowed into the stock on the tick-up and $26.91 million flowed out of the stock on the tick-down, for a money net flow of $44.36 million into the stock. Of all companies tracked, Allstate had the 11th highest net in-flow for the day. Allstate traded down ($0.61) for the day and closed at $92.80
Several other research firms have also commented on ALL. Keefe, Bruyette & Woods lowered Allstate from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 2nd. Zacks Investment Research lowered Allstate from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Goldman Sachs Group began coverage on Allstate in a research report on Monday, December 4th. They issued a “neutral” rating and a $104.00 price target for the company. Wells Fargo & Co lowered Allstate from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 9th. Finally, UBS Group boosted their price target on Allstate from $93.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Allstate currently has a consensus rating of “Hold” and an average price target of $99.00.
Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased 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 valued at $45,204,000 after buying an additional 14,700 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Allstate by 2.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,160 shares of the insurance provider’s stock valued at $7,860,000 after purchasing an additional 1,700 shares during the last quarter. Aperio Group LLC grew its stake in Allstate by 16.4% during the 3rd quarter. Aperio Group LLC now owns 410,026 shares of the insurance provider’s stock valued at $37,685,000 after purchasing an additional 57,713 shares during the last quarter. Regentatlantic Capital LLC grew its stake in Allstate by 0.9% during the 4th quarter. Regentatlantic Capital LLC now owns 126,437 shares of the insurance provider’s stock valued at $13,239,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC grew its stake in Allstate by 86.5% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 611,347 shares of the insurance provider’s stock valued at $64,015,000 after purchasing an additional 283,615 shares during the last quarter. 76.65% of the stock is currently owned by institutional investors.
The company has a current ratio of 0.25, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31. The stock has a market cap of $33,300.00, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.34 and a beta of 0.96.
Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.56. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.09 billion. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 EPS. research analysts expect that Allstate Corp will post 8.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $0.37. Allstate’s payout ratio is presently 21.20%.
ILLEGAL ACTIVITY NOTICE: “Investors Buy Allstate (ALL) on Weakness Following Analyst Downgrade” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/02/22/investors-buy-allstate-all-on-weakness-following-analyst-downgrade.html.
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.
Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.