Weekly Research Analysts’ Ratings Updates for Allstate (ALL)

A number of research firms have changed their ratings and price targets for Allstate (NYSE: ALL):

• 7/19/2024 – Allstate had its price target raised by analysts at The Goldman Sachs Group, Inc. from $197.00 to $199.00. They now have a “buy” rating on the stock.
• 7/18/2024 – Allstate was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $191.00 price target on the stock, up previously from $190.00.
• 7/11/2024 – Allstate had its price target raised by analysts at JPMorgan Chase & Co. from $193.00 to $200.00. They now have an “overweight” rating on the stock.
• 7/10/2024 – Allstate had its price target lowered by analysts at Morgan Stanley from $205.00 to $200.00. They now have an “overweight” rating on the stock.
• 7/5/2024 – Allstate had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $194.00 price target on the stock.
• 6/21/2024 – Allstate had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $194.00 price target on the stock.
• 6/3/2024 – Allstate was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

Allstate Stock Performance

NYSE:ALL traded down $1.43 during trading hours on Wednesday, reaching $172.16. The stock had a trading volume of 312,193 shares, compared to its average volume of 1,559,839. The Allstate Co. has a 12-month low of $104.29 and a 12-month high of $179.93. The stock has a 50 day simple moving average of $164.07 and a 200 day simple moving average of $163.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $45.44 billion, a P/E ratio of 38.00, a price-to-earnings-growth ratio of 1.77 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. During the same period last year, the company earned ($1.30) earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts forecast that The Allstate Co. will post 13.64 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is 81.24%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Allstate

Several large investors have recently bought and sold shares of ALL. Norges Bank bought a new stake in shares of Allstate in the 4th quarter worth approximately $212,771,000. Palestra Capital Management LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $83,561,000. Balyasny Asset Management L.P. bought a new stake in shares of Allstate in the 4th quarter worth approximately $81,571,000. Artemis Investment Management LLP bought a new stake in shares of Allstate in the 1st quarter worth approximately $95,764,000. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $52,042,000. 76.47% of the stock is owned by institutional investors.

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.