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

The Allstate Corporation (NYSE:ALL) has earned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $248.2632.

Several brokerages have commented on ALL. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Sunday. Cantor Fitzgerald increased their price objective on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Raymond James Financial boosted their target price on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Monday, July 6th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a report on Thursday, May 28th.

Key Stories Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Mizuho raised its price target on Allstate to $272 from $255 and kept an outperform rating, signaling confidence that the stock still has upside from recent levels.
• Positive Sentiment: Several recent articles argued that Allstate looks undervalued after earnings and may benefit from a relatively favorable catastrophe year, which could help underwriting results and profits.
• Neutral Sentiment: Allstate declared a quarterly dividend of $1.08 per share, reinforcing shareholder returns but not necessarily changing the near-term trading story.
• Neutral Sentiment: Comparative coverage versus Progressive and other insurance peers kept attention on Allstate’s valuation, but this was more of a relative-stock discussion than a direct catalyst.
• Negative Sentiment: Oklahoma Attorney General Gentner Drummond sued Allstate, alleging the insurer defrauded customers, adding a fresh legal overhang that could raise compliance and settlement concerns. Article Title
• Negative Sentiment: Allstate also drew attention after accusing Broadcom of auditing it because it ended its VMware/CA relationship, another sign of ongoing legal or contractual friction. Article Title

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock worth $4,851,560 over the last quarter. 1.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allstate

Institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its stake in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after purchasing an additional 50 shares during the period. Compound Planning Inc. grew its position in Allstate by 1.6% during the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after buying an additional 50 shares during the period. Humankind Investments LLC grew its position in Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after buying an additional 51 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after buying an additional 53 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Up 0.0%

Shares of NYSE:ALL opened at $251.64 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. Allstate has a 52-week low of $188.08 and a 52-week high of $257.67. The stock has a market cap of $64.78 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 0.44 and a beta of 0.16. The business has a 50-day moving average price of $224.15 and a 200-day moving average price of $213.04.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the firm earned $3.53 earnings per share. Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts predict that Allstate will post 29.99 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is 9.53%.

Allstate Company Profile

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.