The Allstate Co. (NYSE:ALL) Receives $217.94 Average Target Price from Brokerages

The Allstate Co. (NYSE:ALL) has received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. One research 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 on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $217.94.

Several research firms have issued reports on ALL. Wells Fargo & Company increased their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price objective on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Barclays cut their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Hedge funds have recently added to or reduced their stakes in the business. Apella Capital LLC grew 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 purchasing an additional 60 shares during the last quarter. Intrust Bank NA grew its position in shares of Allstate by 0.5% in the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock worth $2,340,000 after buying an additional 61 shares during the period. 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 valued at $571,000 after acquiring an additional 62 shares during the period. Mather Group LLC. boosted its stake in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock worth $697,000 after acquiring an additional 62 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 62 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 0.0 %

Shares of Allstate stock opened at $209.38 on Tuesday. The stock has a market capitalization of $55.49 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.01 and a beta of 0.47. Allstate has a 52-week low of $156.66 and a 52-week high of $212.91. 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 stock’s 50-day simple moving average is $195.46 and its 200 day simple moving average is $193.65.

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

Allstate announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

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.