Allstate(New York Stock Exchange: ALL – Get a rating) saw its target price reduced by Barclays from $123.00 to $120.00 in a research note delivered to investors on Monday morning, Target Stock Advisor reports. They currently have an equal weight rating on the insurance provider’s stock.
Several other equity research analysts also weighed in on ALL. TheStreet downgraded Allstate shares from an ab rating to a c+ rating in a Wednesday, Aug. 3, report. Citigroup launched coverage on Allstate shares in a research report on Monday, May 23. They set a buy rating and target price of $159.00 on the stock. Argus moved Allstate from a buy rating to a hold rating in a Friday, May 20 research rating. Piper Sandler lowered her price target on Allstate from $150.00 to $147.00 and set an overweight rating for the company in a Friday, April 22 research note. Finally, Wells Fargo & Company lowered its price target on Allstate from $116.00 to $110.00 and set an underweight rating for the company in a Thursday, July 21 research note. One equity research analyst rated the stock with a sell rating, six assigned a hold rating, six issued a buy rating, and one issued a strong buy rating for the stock. society. According to data from MarketBeat.com, Allstate currently has a Moderate Buy average rating and an average price target of $142.33.
Allstate Price Performance
Shares of Allstate Stock opened at $118.29 on Monday. The company has a fifty-day simple moving average of $123.94 and a 200-day simple moving average of $127.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt ratio of 0.44. Allstate has a 1-year low of $106.11 and a 1-year high of $144.46. The stock has a market capitalization of $31.97 billion, a price/earnings ratio of 41.22, a PEG ratio of 3.54 and a beta of 0.73.
Allstate(New York Stock Exchange: ALL – Get a rating) last announced its results on Wednesday, August 3. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($1.27) by $0.51. Allstate had a net margin of 1.99% and a return on equity of 7.53%. In the same quarter last year, the company achieved EPS of $3.79. On average, sell-side analysts expect Allstate to post earnings per share of 5.36 for the current year.
Allstate announces dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3. Shareholders of record on Wednesday, August 31 will receive a dividend of $0.85 per share. This represents an annualized dividend of $3.40 and a yield of 2.87%. The ex-date of this dividend is Tuesday, August 30. Allstate’s dividend payout ratio is 118.47%.
Insider Buying and Selling at Allstate
In other Allstate news, CEO Thomas J. Wilson sold 142,000 shares of the company in a trade Thursday, June 2. The stock was sold at an average price of $133.39, for a total transaction of $18,941,380.00. Following the completion of the sale, the CEO now owns 99,828 shares of the company, valued at approximately $13,316,056.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at the SEC website. Insiders own 1.77% of the shares of the company.
Institutional investors weigh in on Allstate
Several hedge funds have recently increased or reduced their stakes in the company. Field & Main Bank acquired a new equity stake in Allstate during the second quarter worth $25,000. Curi Wealth Management LLC increased its holdings of Allstate stock by 7,266.7% during the second quarter. Curi Wealth Management LLC now owns 221 shares of the insurance provider worth $28,000 after buying 218 additional shares in the last quarter. Cowa LLC acquired a new stake in Allstate stock during the first quarter worth $30,000. US Asset Management LLC acquired a new equity stake in Allstate during the first quarter at a value of $32,000. Finally, MCF Advisors LLC acquired a new equity stake in Allstate during the first quarter at a value of $34,000. Institutional investors and hedge funds hold 75.84% of the company’s shares.
Allstate Company Profile
Allstate Corporation, together with its subsidiaries, provides property and casualty and other insurance products in the United States and Canada. The company operates through Allstate Protection; protective services; Allstate Health and Benefits; and the Damage-Passive segments in run-off. The Allstate Protection segment offers auto and home insurance for private passengers; specialty automotive products, including insurance for motorcycles, trailers, motorhomes and all-terrain vehicles; other personal insurance products, such as renters, condominiums, homeowners, boats, umbrellas, manufactured homes and self-contained scheduled personal property; and commercial products under the Allstate and Encompass brands.
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