The Allstate Corporation (NYSE:ALL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of The Allstate Corporation (NYSE:ALL) have received a consensus rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $241.6667.

A number of analysts have weighed in on the company. Mizuho lowered their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup raised their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wells Fargo & Company raised their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th.

Allstate Stock Up 1.0%

Allstate stock opened at $216.64 on Friday. The business has a fifty day moving average of $212.27 and a two-hundred day moving average of $208.06. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $55.77 billion, a P/E ratio of 4.78, a P/E/G ratio of 0.39 and a beta of 0.21. Allstate has a twelve month low of $188.08 and a twelve month high of $227.62.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.53 earnings per share. On average, analysts forecast that Allstate will post 29.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.55% of the stock is owned by insiders.

Institutional Trading of Allstate

Institutional investors have recently made changes to their positions in the business. MV Capital Management Inc. acquired a new stake in shares of Allstate in the 4th quarter worth $25,000. Navalign LLC acquired a new stake in shares of Allstate in the 4th quarter worth $27,000. Dorato Capital Management acquired a new stake in shares of Allstate in the 4th quarter worth $27,000. Evolution Wealth Management Inc. boosted its position in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in shares of Allstate in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.