Investors Buy Allstate (ALL) on Weakness Following Analyst Downgrade

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%.

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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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