Wells Fargo & Co set a $100.00 price target on Allstate (NYSE:ALL) in a research note published on Thursday. The brokerage currently has a hold rating on the insurance provider’s stock.
A number of other analysts also recently weighed in on ALL. ValuEngine downgraded shares of Allstate from a hold rating to a sell rating in a research report on Thursday, June 21st. B. Riley raised their price target on shares of Allstate from $84.00 to $88.00 and gave the stock a neutral rating in a research report on Monday, July 16th. Buckingham Research raised shares of Allstate from an underperform rating to a neutral rating and set a $88.00 price target for the company in a research report on Wednesday, July 18th. Citigroup decreased their price target on shares of Allstate from $108.00 to $107.00 and set a buy rating for the company in a research report on Friday, July 20th. Finally, Credit Suisse Group initiated coverage on shares of Allstate in a research report on Tuesday, August 7th. They set an outperform rating and a $114.00 price target for the company. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $104.62.
Shares of NYSE:ALL opened at $97.32 on Thursday. Allstate has a 52-week low of $88.29 and a 52-week high of $105.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market capitalization of $33.70 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.26 and a beta of 0.91.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the company earned $1.38 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts anticipate that Allstate will post 9.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, August 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 27.42%.
In related news, EVP Susan L. Lees sold 22,189 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total transaction of $2,202,036.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Glenn T. Shapiro sold 21,728 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $98.70, for a total value of $2,144,553.60. The disclosure for this sale can be found here. Insiders have sold 54,432 shares of company stock worth $5,386,208 over the last 90 days. 1.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners lifted its stake in Allstate by 11.2% in the second quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock valued at $959,406,000 after buying an additional 1,061,730 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Allstate by 4.3% in the second quarter. Macquarie Group Ltd. now owns 7,478,697 shares of the insurance provider’s stock valued at $682,581,000 after buying an additional 305,110 shares during the last quarter. Northern Trust Corp lifted its stake in Allstate by 0.4% in the second quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock valued at $623,554,000 after buying an additional 24,814 shares during the last quarter. LSV Asset Management lifted its stake in Allstate by 3.0% in the second quarter. LSV Asset Management now owns 5,409,081 shares of the insurance provider’s stock valued at $493,686,000 after buying an additional 157,623 shares during the last quarter. Finally, FMR LLC lifted its stake in Allstate by 24.7% in the second quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock valued at $373,917,000 after buying an additional 811,694 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.
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.
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