Allstate (NYSE:ALL) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Allstate (NYSE:ALL) from a buy rating to a hold rating in a research report released on Saturday.

Several other equities analysts also recently weighed in on ALL. JPMorgan Chase & Co. lifted their target price on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Evercore ISI lifted their target price on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Morgan Stanley lifted their target price on Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Barclays lifted their target price on Allstate from $172.00 to $188.00 and gave the company an “underweight” rating in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods lifted their target price on Allstate from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $227.07.

Allstate Stock Up 1.6%

Shares of ALL opened at $196.35 on Friday. The firm has a market cap of $52.00 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33. Allstate has a 12-month low of $162.27 and a 12-month high of $213.18. The company’s 50-day moving average price is $200.91 and its 200 day moving average price is $196.69. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $5.13 earnings per share. On average, sell-side analysts forecast that Allstate will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 9th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, June 9th. Allstate’s payout ratio is 27.32%.

Institutional Investors Weigh In On Allstate

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after buying an additional 4,035,629 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock valued at $2,424,710,000 after buying an additional 2,374,684 shares during the last quarter. Boston Partners lifted its stake in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock valued at $512,627,000 after buying an additional 2,134,893 shares during the last quarter. Norges Bank purchased a new stake in Allstate in the fourth quarter valued at approximately $344,354,000. Finally, GQG Partners LLC lifted its stake in Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after buying an additional 1,685,694 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.