The Allstate Co. (NYSE:ALL) Given Average Recommendation of "Moderate Buy" by Brokerages

The Allstate Co. (NYSE:ALL - Get Free Report) has received a consensus rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $225.20.

A number of research firms have recently issued reports on ALL. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Raymond James reiterated a "strong-buy" rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Finally, Morgan Stanley lifted their price objective on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after buying an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the fourth quarter worth $231,000. Stenger Family Office LLC acquired a new stake in shares of Allstate during the fourth quarter worth $439,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Allstate by 38.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,632 shares of the insurance provider's stock worth $4,385,000 after buying an additional 6,235 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Allstate by 13.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,600 shares of the insurance provider's stock worth $1,272,000 after buying an additional 760 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $208.10 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The company has a market capitalization of $55.11 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35. The company's 50 day moving average price is $199.59 and its two-hundred day moving average price is $197.16. Allstate has a 52 week low of $156.66 and a 52 week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same quarter last year, the business earned $5.13 earnings per share. Allstate's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its board has approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 1.92%. Allstate's dividend payout ratio (DPR) is 27.32%.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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