The Allstate Co. (NYSE:ALL) Receives Consensus Rating of “Moderate Buy” from Brokerages

The Allstate Co. (NYSE:ALLGet Free Report) has been given an average rating of “Moderate Buy” by the sixteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $216.94.

A number of brokerages have recently weighed in on ALL. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley boosted their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group raised their price objective on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler boosted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th.

Read Our Latest Report on Allstate

Institutional Investors Weigh In On Allstate

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Allstate by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after acquiring an additional 28,584 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Allstate by 38.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after purchasing an additional 2,888 shares during the last quarter. Bank of Montreal Can increased its position in shares of Allstate by 1.7% during the third quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock worth $128,758,000 after buying an additional 11,195 shares during the period. Blueshift Asset Management LLC bought a new position in Allstate during the third quarter worth $623,000. Finally, Franklin Resources Inc. lifted its holdings in Allstate by 5.1% in the third quarter. Franklin Resources Inc. now owns 136,632 shares of the insurance provider’s stock valued at $26,032,000 after buying an additional 6,616 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 2.9 %

Shares of NYSE:ALL opened at $191.45 on Thursday. The business’s 50 day simple moving average is $195.81 and its 200 day simple moving average is $185.19. Allstate has a 1 year low of $148.23 and a 1 year high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $50.70 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALLGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned $0.81 earnings per share. On average, research analysts anticipate that Allstate will post 16.26 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s payout ratio is presently 23.83%.

About Allstate

(Get Free Report

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.

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