The Allstate Corporation (NYSE:ALL) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts rate Allstate “Hold” on average: Of 21 analysts, 10 recommend holding, 5 recommend buying, 2 strongly recommend buying and 4 recommend selling. The average 12-month price target is $266.89.
• Allstate reported strong quarterly results, with earnings per share of $8.99 versus the $6.06 consensus estimate and revenue of $18.60 billion, up 11.8% year over year.
• The company declared a quarterly dividend of $1.08 per share, equal to an annualized $4.32 dividend and a 1.9% yield. Meanwhile, two insiders sold a combined 89,221 shares, and institutional investors own 76.47% of the stock.

Shares of The Allstate Corporation (NYSE:ALL - Get Free Report) have received an average rating of "Hold" from the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $266.89.

A number of research firms have recently issued reports on ALL. Atlantic Securities set a $319.00 price target on Allstate in a research report on Wednesday, July 15th. Raymond James Financial restated a "strong-buy" rating and set a $315.00 target price on shares of Allstate in a report on Tuesday, August 11th. Citigroup cut Allstate from a "neutral" rating to a "sell" rating and increased their target price for the company from $226.00 to $240.00 in a research report on Tuesday, August 11th. Zacks Research downgraded Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 15th. Finally, UBS Group boosted their price target on Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th.

Insider Transactions at Allstate

In other Allstate news, insider John Dugenske sold 32,996 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company's stock.

Institutional Investors Weigh In On Allstate

Several institutional investors have recently bought and sold shares of ALL. BlackRock Inc. acquired a new stake in shares of Allstate in the 2nd quarter worth $5,439,448,000. Bank of America Corp DE purchased a new position in Allstate during the 2nd quarter worth $1,410,362,000. GQG Partners LLC acquired a new position in Allstate during the 2nd quarter valued at about $1,245,710,000. Deutsche Bank AG purchased a new stake in Allstate in the second quarter valued at about $1,008,648,000. Finally, Norges Bank purchased a new stake in Allstate in the fourth quarter valued at about $531,294,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Up 0.1%

ALL stock opened at $227.50 on Friday. Allstate has a 12 month low of $188.08 and a 12 month high of $277.22. The firm's 50-day moving average is $256.65 and its 200 day moving average is $232.54. The company has a market capitalization of $57.53 billion, a PE ratio of 4.54, a P/E/G ratio of 0.51 and a beta of 0.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $18.60 billion during the quarter, compared to analysts' expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.94 EPS. On average, research analysts anticipate that Allstate will post 35.76 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, August 31st. Allstate's payout ratio is 8.63%.

Allstate Company Profile

Allstate Corporation is an insurance and protection-services company headquartered in Northbrook, Illinois. Through its Allstate and National General brands, the company primarily provides property and casualty insurance to individuals and businesses in the United States.

Its products include automobile, homeowners, renters, condominium, landlord, motorcycle and recreational-vehicle insurance, along with other personal and commercial coverage. Allstate also offers roadside assistance, identity protection and related protection services through its various businesses and distribution channels, including agents, brokers and digital platforms.

Allstate's roots date to 1931, when the Allstate Insurance Company was established as a subsidiary of Sears, Roebuck & Co The company became independent from Sears in the 1990s.

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