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

Shares of The Allstate Corporation (NYSE:ALL) have earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, seven have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $240.3333.

ALL has been the topic of several recent analyst reports. Mizuho decreased their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Citigroup raised their price objective on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd.

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction 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 sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company’s stock.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. CIBC Bancorp USA Inc. bought a new stake in shares of Allstate in the 3rd quarter worth about $7,814,000. Elo Mutual Pension Insurance Co increased its holdings in shares of Allstate by 39.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock worth $8,650,000 after buying an additional 11,431 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after buying an additional 26,586 shares during the last quarter. Mezzasalma Advisors LLC increased its holdings in shares of Allstate by 58.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock worth $4,875,000 after buying an additional 8,837 shares during the last quarter. Finally, AIA Group Ltd increased its holdings in shares of Allstate by 479.8% in the 3rd quarter. AIA Group Ltd now owns 13,190 shares of the insurance provider’s stock worth $2,831,000 after buying an additional 10,915 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Down 0.5%

Shares of Allstate stock opened at $221.94 on Thursday. The company’s fifty day simple moving average is $215.57 and its 200-day simple moving average is $209.10. The stock has a market capitalization of $57.13 billion, a PE ratio of 4.90, a P/E/G ratio of 0.40 and a beta of 0.18. Allstate has a 1-year low of $188.08 and a 1-year high of $227.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $3.53 EPS. As a group, equities analysts anticipate that Allstate will post 29.43 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. Allstate’s payout ratio is currently 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.