Allstate (NYSE:ALL) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Allstate (NYSE:ALL) from a hold rating to a buy rating in a report issued on Tuesday.

ALL has been the topic of several other reports. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Barclays lowered their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Finally, Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Allstate Price Performance

Shares of NYSE:ALL opened at $190.86 on Tuesday. 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 $50.58 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. The stock has a fifty day moving average of $196.78 and a 200-day moving average of $194.17. Allstate has a one year low of $156.66 and a one year high of $212.91.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, equities analysts anticipate that Allstate will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.10%. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. Allstate’s payout ratio is currently 23.54%.

Allstate announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

A number of large investors have recently added to or reduced their stakes in ALL. Apella Capital LLC lifted its stake in shares of Allstate by 1.9% in the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after buying an additional 60 shares during the last quarter. Intrust Bank NA lifted its position in Allstate by 0.5% during the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock worth $2,340,000 after acquiring an additional 61 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Allstate by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after acquiring an additional 62 shares during the last quarter. Mather Group LLC. boosted its holdings in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after acquiring an additional 62 shares during the period. Finally, Angeles Wealth Management LLC grew its position in shares of Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 62 shares during the last quarter. 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.