Shares of Allstate Corp. (NYSE:ALL) have received an average rating of “Buy” from the seventeen ratings firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is GBX 72.80 ($0.90).
A number of equities research analysts recently commented on the company. Credit Suisse Group AG set a $73.00 target price on Allstate Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. MKM Partners reaffirmed a “buy” rating on shares of Allstate Corp. in a report on Thursday, June 16th. Argus reaffirmed a “buy” rating and set a $76.00 target price on shares of Allstate Corp. in a report on Friday, September 2nd. William Blair reiterated an “underperform” rating on shares of Allstate Corp. in a research report on Saturday, September 10th. Finally, Barclays PLC reiterated an “overweight” rating and set a $79.00 price target (up from $74.00) on shares of Allstate Corp. in a research report on Friday, September 30th.
Allstate Corp. (NYSE:ALL) opened at 68.49 on Thursday. The company has a market capitalization of $25.44 billion, a P/E ratio of 17.25 and a beta of 0.95. The stock’s 50 day moving average price is $68.46 and its 200-day moving average price is $67.90. Allstate Corp. has a 52-week low of $56.03 and a 52-week high of $70.38.
Allstate Corp. (NYSE:ALL) last released its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. Allstate Corp. had a return on equity of 9.94% and a net margin of 4.63%. The firm earned $9.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. Analysts predict that Allstate Corp. will post $4.41 earnings per share for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, August 29th. Allstate Corp.’s dividend payout ratio is presently 33.59%.
In other news, CFO Steven E. Shebik sold 41,334 shares of Allstate Corp. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of GBX 68.86 ($0.85), for a total value of £28,462.59 ($35,225.98). Following the sale, the chief financial officer now directly owns 102,959 shares of the company’s stock, valued at £70,897.57 ($87,744.51). The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Harriet K. Harty sold 6,779 shares of Allstate Corp. stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of GBX 68.64 ($0.85), for a total value of £4,653.11 ($5,758.79). Following the completion of the sale, the insider now directly owns 12,316 shares in the company, valued at £8,453.70 ($10,462.50). The disclosure for this sale can be found here. 1.58% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Evercore Wealth Management LLC raised its stake in shares of Allstate Corp. by 0.4% in the second quarter. Evercore Wealth Management LLC now owns 4,264 shares of the company’s stock worth $298,000 after buying an additional 15 shares in the last quarter. Evanson Asset Management LLC raised its stake in shares of Allstate Corp. by 0.3% in the second quarter. Evanson Asset Management LLC now owns 5,165 shares of the company’s stock worth $361,000 after buying an additional 16 shares in the last quarter. WealthTrust Axiom LLC raised its stake in shares of Allstate Corp. by 1.0% in the second quarter. WealthTrust Axiom LLC now owns 3,878 shares of the company’s stock worth $271,000 after buying an additional 37 shares in the last quarter. Pillar Pacific Capital Management LLC raised its stake in shares of Allstate Corp. by 1.2% in the second quarter. Pillar Pacific Capital Management LLC now owns 3,379 shares of the company’s stock worth $236,000 after buying an additional 39 shares in the last quarter. Finally, Gerstein Fisher raised its stake in shares of Allstate Corp. by 1.4% in the second quarter. Gerstein Fisher now owns 3,036 shares of the company’s stock worth $212,000 after buying an additional 41 shares in the last quarter. 76.38% of the stock is currently owned by hedge funds and other institutional investors.
Allstate Corp. Company Profile
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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