Allstate (ALL) Given “Hold” Rating at Wells Fargo

Wells Fargo reissued their hold rating on shares of Allstate (NYSE:ALL) in a report published on Thursday.

“We are leaving our Q2 cat estimate for ALL at $875 million pre­tax, which now includes $664 million of cats over the remaining two months of the quarter (to­date PCS has two events in May, although none of them have loss estimates yet). We do not expect much movement in the ALL shares coming off of the cat preannouncement. Sitting down with ALL next week at our Financials Conference. We will sit down with ALL next Wednesday (May 23) at our Investor Relations. Paramount interest to us is getting a better view on the loss cost trends ALL expects over the balance of the year, the level of growth they should see (both in terms of new business and a pick­up in retention), and view on capital/M&A potential.”,” Wells Fargo’s analyst wrote.

A number of other equities analysts also recently commented on ALL. ValuEngine upgraded shares of Allstate from a hold rating to a buy rating in a research report on Friday, February 2nd. Bank of America cut their price objective on shares of Allstate from $116.00 to $111.00 and set a buy rating for the company in a research report on Thursday, February 8th. Deutsche Bank cut their price objective on shares of Allstate from $102.00 to $100.00 and set a hold rating for the company in a research report on Friday, February 9th. Citigroup cut their price objective on shares of Allstate from $118.00 to $111.00 and set a buy rating for the company in a research report on Friday, February 16th. Finally, Morgan Stanley restated an equal weight rating and set a $105.00 price objective (down previously from $113.00) on shares of Allstate in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $101.46.

ALL stock traded down $0.07 on Thursday, hitting $94.93. The company’s stock had a trading volume of 34,469 shares, compared to its average volume of 2,386,765. Allstate has a 1 year low of $95.25 and a 1 year high of $96.35. The company has a market cap of $33.61 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, May 1st. The insurance provider reported $2.96 EPS for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.35. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.04 billion. Allstate had a net margin of 8.93% and a return on equity of 14.56%. Allstate’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. analysts anticipate that Allstate will post 8.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Wednesday, May 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.94%. Allstate’s dividend payout ratio (DPR) is presently 27.42%.

Several large investors have recently bought and sold shares of ALL. Private Capital Group LLC grew its stake in Allstate by 195.5% in the 1st quarter. Private Capital Group LLC now owns 1,182 shares of the insurance provider’s stock valued at $112,000 after acquiring an additional 782 shares during the last quarter. Clearwater Capital Advisors LLC acquired a new stake in Allstate in the 1st quarter valued at about $122,000. Rational Advisors LLC acquired a new stake in Allstate in the 4th quarter valued at about $126,000. Taylor Hoffman Wealth Management acquired a new stake in Allstate in the 4th quarter valued at about $131,000. Finally, Resources Investment Advisors Inc. grew its stake in Allstate by 71.1% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,340 shares of the insurance provider’s stock valued at $140,000 after acquiring an additional 557 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

Analyst Recommendations for Allstate (NYSE:ALL)

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