The Allstate Corporation (NYSE:ALL) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Moderate Buy consensus from 20 brokerages (1 sell, 9 hold, 7 buy, 3 strong buy) with an average 12‑month price target of $238.65.
• Allstate beat estimates last quarter with $14.31 EPS vs. $8.72 expected and $17.35B revenue, reported a 39.2% ROE and analysts forecast about $25.82 EPS for the fiscal year.
• The company raised its quarterly dividend to $1.08 (annualized $4.32), implying a ~2.0% yield and an 11.31% payout ratio.

The Allstate Corporation (NYSE:ALL - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, seven have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $238.6471.

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Weiss Ratings raised Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, March 23rd. Cantor Fitzgerald reissued a "neutral" rating and issued a $220.00 price target on shares of Allstate in a report on Thursday, February 5th. Mizuho lowered their price target on Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Finally, Barclays raised their price target on Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a report on Wednesday, April 8th.

Allstate Price Performance

Shares of NYSE ALL opened at $216.36 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $55.87 billion, a PE ratio of 5.67, a P/E/G ratio of 0.44 and a beta of 0.22. The business has a 50-day simple moving average of $210.01 and a two-hundred day simple moving average of $205.75. Allstate has a fifty-two week low of $188.08 and a fifty-two week high of $219.48.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $7.67 earnings per share. As a group, equities analysts expect that Allstate will post 25.82 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Allstate's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Monday, March 2nd. Allstate's dividend payout ratio is presently 11.31%.

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently modified their holdings of the company. South Plains Financial Inc. lifted its holdings in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock worth $36,000 after purchasing an additional 49 shares during the period. Coldstream Capital Management Inc. raised its position in Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock valued at $1,625,000 after acquiring an additional 50 shares in the last quarter. Compound Planning Inc. raised its position in Allstate by 1.6% during the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock valued at $669,000 after acquiring an additional 50 shares in the last quarter. Humankind Investments LLC raised its position in Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider's stock valued at $256,000 after acquiring an additional 51 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock valued at $1,210,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

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.

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