The Allstate Corporation (NYSE:ALL) Given Average Rating of “Moderate Buy” by Analysts

The Allstate Corporation (NYSE:ALL) has been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $240.3333.

A number of research analysts have recently commented on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price target on shares of Allstate in a research report on Tuesday, March 3rd. Barclays boosted their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research note on Wednesday, April 8th. Wells Fargo & Company increased their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Mizuho reduced their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Finally, Piper Sandler reissued an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new stake in Allstate in the third quarter valued at approximately $7,814,000. Elo Mutual Pension Insurance Co raised its position in shares of Allstate by 39.6% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock valued at $8,650,000 after buying an additional 11,431 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after acquiring an additional 26,586 shares during the last quarter. Mezzasalma Advisors LLC lifted its holdings in shares of Allstate by 58.6% during the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock worth $4,875,000 after acquiring an additional 8,837 shares during the last quarter. Finally, AIA Group Ltd grew its position in Allstate by 479.8% in the third quarter. AIA Group Ltd now owns 13,190 shares of the insurance provider’s stock worth $2,831,000 after acquiring an additional 10,915 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $233.98 on Thursday. The firm has a market cap of $60.23 billion, a price-to-earnings ratio of 5.16, a P/E/G ratio of 0.41 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 52 week low of $188.08 and a 52 week high of $236.39. The firm’s 50-day simple moving average is $216.91 and its two-hundred day simple moving average is $209.68.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.53 EPS. As a group, equities analysts forecast that Allstate will post 29.75 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.8%. Allstate’s payout ratio is 9.53%.

Allstate Company Profile

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.