Roth Mkm Reiterates “Buy” Rating for Allstate (NYSE:ALL)

Roth Mkm reissued their buy rating on shares of Allstate (NYSE:ALL) in a research report released on Wednesday, Benzinga reports. Roth Mkm currently has a $200.00 price target on the insurance provider’s stock.

ALL has been the topic of a number of other research reports. The Goldman Sachs Group boosted their price objective on shares of Allstate from $197.00 to $199.00 and gave the stock a buy rating in a report on Friday, July 19th. BMO Capital Markets increased their price target on Allstate from $191.00 to $205.00 and gave the company an outperform rating in a report on Monday, August 5th. Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. StockNews.com cut Allstate from a strong-buy rating to a buy rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company upgraded shares of Allstate from an underweight rating to an equal weight rating and lifted their price target for the stock from $142.00 to $177.00 in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $191.94.

Allstate Price Performance

ALL stock opened at $179.64 on Wednesday. The stock has a 50-day simple moving average of $166.45 and a 200-day simple moving average of $165.48. The firm has a market cap of $47.41 billion, a P/E ratio of 39.66, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 1 year low of $104.29 and a 1 year high of $184.30.

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

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the stock in a transaction on 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 sale, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

A number of large investors have recently modified their holdings of ALL. E Fund Management Hong Kong Co. Ltd. bought a new position in Allstate in the 1st quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in shares of Allstate during the fourth quarter worth approximately $25,000. Rise Advisors LLC bought a new position in Allstate in the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate in the 1st quarter valued at approximately $26,000. Finally, Versant Capital Management Inc raised its stake in 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 in the last quarter. 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.