Allstate (NYSE:ALL) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Allstate (NYSE:ALL) from a buy rating to a strong-buy rating in a report issued on Thursday morning.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group boosted their price objective on Allstate from $197.00 to $199.00 and gave the stock a buy rating in a report on Friday, July 19th. Roth Mkm upped their target price on shares of Allstate from $175.00 to $200.00 and gave the company a buy rating in a research report on Monday, April 8th. JPMorgan Chase & Co. raised their price target on Allstate from $193.00 to $200.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Evercore ISI upped their price objective on Allstate from $166.00 to $173.00 and gave the company an in-line rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company upped their target price on shares of Allstate from $146.00 to $153.00 and gave the company an underweight rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has a consensus rating of Moderate Buy and a consensus target price of $183.24.

Allstate Price Performance

NYSE ALL traded down $3.18 on Thursday, hitting $174.20. 516,535 shares of the company were exchanged, compared to its average volume of 1,564,720. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market cap of $45.97 billion, a P/E ratio of 39.18, a P/E/G ratio of 1.79 and a beta of 0.48. The firm has a 50 day moving average of $164.44 and a two-hundred day moving average of $163.99. Allstate has a 1-year low of $104.29 and a 1-year high of $180.87.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.75% and a net margin of 5.03%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned ($4.42) EPS. On average, equities analysts predict that Allstate will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.11%. Allstate’s 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 that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Premier Path Wealth Partners LLC raised its stake in Allstate by 2.5% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 61 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in Allstate by 0.9% during the 1st quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock worth $1,306,000 after acquiring an additional 65 shares during the period. Brighton Jones LLC increased its stake in Allstate by 1.9% during the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after acquiring an additional 71 shares during the period. SVB Wealth LLC raised its holdings in Allstate by 1.2% in the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after acquiring an additional 72 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

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.