The Allstate Corporation (NYSE:ALL) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Allstate has a consensus “Hold” rating from 22 analysts, with four sell, nine hold, five buy, and four strong-buy recommendations. The average 12-month price target is $263.90.
• Allstate reported strong quarterly results, posting $8.99 in EPS versus the $6.06 consensus estimate and $18.60 billion in revenue, up 11.8% year over year.
• The company declared a quarterly dividend of $1.08 per share, equal to a $4.32 annualized payout and a 1.7% yield. Two insiders recently sold substantial portions of their holdings, while institutions own 76.47% of the stock.

The Allstate Corporation (NYSE:ALL - Get Free Report) has earned a consensus rating of "Hold" from the twenty-two ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $263.90.

A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price objective on Allstate from $268.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $315.00 price target on shares of Allstate in a research report on Tuesday, August 11th. UBS Group lifted their price objective on shares of Allstate from $261.00 to $275.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Roth Capital set a $300.00 price objective on shares of Allstate in a research note on Thursday, August 6th. Finally, Mizuho upped their target price on shares of Allstate from $255.00 to $272.00 and gave the company an "outperform" rating in a report on Thursday, July 9th.

Allstate Price Performance

Shares of ALL opened at $258.38 on Tuesday. The stock has a 50 day simple moving average of $254.86 and a 200 day simple moving average of $227.40. Allstate has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $65.33 billion, a PE ratio of 5.16, a P/E/G ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter last year, the business posted $5.94 EPS. The company's revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts predict that Allstate will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate's dividend payout ratio (DPR) is 8.63%.

Insider Activity at Allstate

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $21,747,396.96. This represents a 40.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

A number of large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Allstate during the 4th quarter worth approximately $231,000. WINTON GROUP Ltd bought a new stake in Allstate during the 2nd quarter worth approximately $210,000. Treasurer of the State of North Carolina increased its position in Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock valued at $24,816,000 after acquiring an additional 3,051 shares during the period. Finally, Ieq Capital LLC increased its position in Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock valued at $7,713,000 after acquiring an additional 6,412 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source