Barclays PLC reiterated their overweight rating on shares of Allstate Corp. (NYSE:ALL) in a report published on Friday. They currently have a $79.00 price objective on the stock, up from their previous price objective of $74.00.
Other equities research analysts have also issued research reports about the stock. Citigroup Inc. reissued a buy rating on shares of Allstate Corp. in a report on Friday, June 3rd. Credit Suisse Group AG set a $73.00 price objective on shares of Allstate Corp. and gave the stock a buy rating in a report on Monday, September 12th. MKM Partners reissued a buy rating on shares of Allstate Corp. in a report on Thursday, June 16th. Argus reissued a buy rating and set a $76.00 price objective on shares of Allstate Corp. in a report on Friday, September 2nd. Finally, Deutsche Bank AG increased their price objective on shares of Allstate Corp. from $77.00 to $78.00 and gave the stock a buy rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Allstate Corp. currently has an average rating of Buy and an average price target of GBX 72 ($0.94).
Shares of Allstate Corp. (NYSE:ALL) opened at 67.84 on Friday. The firm has a market cap of $25.20 billion, a price-to-earnings ratio of 17.08 and a beta of 0.95. The stock’s 50 day moving average is $68.58 and its 200-day moving average is $67.86. Allstate Corp. has a 12-month low of $56.03 and a 12-month high of $70.38.
Allstate Corp. (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, analysts anticipate that Allstate Corp. will post $4.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, August 29th. Allstate Corp.’s dividend payout ratio (DPR) is presently 33.59%.
In related news, insider Harriet K. Harty sold 6,779 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of GBX 68.64 ($0.90), for a total value of £4,653.11 ($6,073.76). Following the sale, the insider now directly owns 12,316 shares in the company, valued at approximately £8,453.70 ($11,034.72). The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matthew E. Winter sold 26,150 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of GBX 70 ($0.91), for a total transaction of £18,305 ($23,893.75). The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. CIBC World Markets Inc. increased its stake in shares of Allstate Corp. by 6.0% in the first quarter. CIBC World Markets Inc. now owns 36,225 shares of the company’s stock worth $2,440,000 after buying an additional 2,057 shares in the last quarter. Pacad Investment Ltd. increased its stake in shares of Allstate Corp. by 4.8% in the first quarter. Pacad Investment Ltd. now owns 17,519 shares of the company’s stock worth $1,180,000 after buying an additional 799 shares in the last quarter. Ngam Advisors L.P. increased its stake in shares of Allstate Corp. by 10.1% in the first quarter. Ngam Advisors L.P. now owns 75,749 shares of the company’s stock worth $5,104,000 after buying an additional 6,951 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Allstate Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 828,626 shares of the company’s stock worth $55,825,000 after buying an additional 19,379 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Allstate Corp. by 29.1% in the first quarter. Prudential Financial Inc. now owns 2,123,965 shares of the company’s stock worth $143,092,000 after buying an additional 479,170 shares in the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.
About Allstate Corp.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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