Allstate (NYSE:ALL) Downgraded to “Buy” at StockNews.com

StockNews.com downgraded shares of Allstate (NYSE:ALL) from a strong-buy rating to a buy rating in a research note published on Friday.

A number of other equities analysts have also recently commented on the stock. Evercore ISI lifted their target price on shares of Allstate from $166.00 to $173.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their target price on shares of Allstate from $197.00 to $199.00 and gave the stock a buy rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $193.00 to $200.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Bank of America boosted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets boosted their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an outperform rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $186.29.

Allstate Stock Performance

NYSE ALL opened at $171.35 on Friday. Allstate has a 52-week low of $104.29 and a 52-week high of $180.87. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $45.22 billion, a P/E ratio of 37.83, a P/E/G ratio of 1.86 and a beta of 0.48. The company has a fifty day moving average of $165.34 and a 200-day moving average of $164.96.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($4.42) EPS. As a group, equities research analysts predict that Allstate will post 13.64 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently bought and sold shares of ALL. E Fund Management Hong Kong Co. Ltd. bought a new stake in Allstate during the first quarter worth about $25,000. Private Wealth Management Group LLC bought a new stake in Allstate during the fourth quarter worth about $25,000. Rise Advisors LLC bought a new stake in Allstate during the first quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate in the first quarter worth approximately $26,000. Finally, Versant Capital Management Inc lifted its stake in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

About Allstate

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.