The Allstate Co. (NYSE:ALL) Receives $172.00 Consensus PT from Analysts

Shares of The Allstate Co. (NYSE:ALL) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $173.71.

A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and raised their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, April 8th. TD Cowen started coverage on shares of Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price for the company. Finally, Roth Mkm lifted their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th.

Allstate Trading Down 0.6 %

NYSE ALL opened at $165.76 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $43.61 billion, a price-to-earnings ratio of -133.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company’s 50-day simple moving average is $163.22 and its two-hundred day simple moving average is $145.95. Allstate has a one year low of $100.57 and a one year high of $174.57.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same period last year, the business earned ($1.36) EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Allstate will post 13.41 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.22%. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. Allstate’s payout ratio is presently -296.77%.

Insider Buying and Selling at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Large investors have recently made changes to their positions in the company. Ellsworth Advisors LLC acquired a new position in shares of Allstate in the 4th quarter valued at $4,312,000. SteelPeak Wealth LLC lifted its stake in shares of Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after purchasing an additional 9,984 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Allstate by 484.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after purchasing an additional 275,319 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Allstate by 214.6% in the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after purchasing an additional 1,071 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Allstate by 88.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock valued at $3,429,000 after purchasing an additional 11,512 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.