Allstate (NYSE:ALL) Upgraded at StockNews.com

StockNews.com upgraded shares of Allstate (NYSE:ALL) from a buy rating to a strong-buy rating in a research report report published on Thursday.

ALL has been the topic of several other research reports. Morgan Stanley cut their target price on Allstate from $205.00 to $200.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. BMO Capital Markets upgraded shares of Allstate from a market perform rating to an outperform rating and increased their target price for the company from $190.00 to $191.00 in a research report on Thursday, July 18th. Keefe, Bruyette & Woods restated an outperform rating and set a $194.00 price target on shares of Allstate in a research report on Friday, July 5th. Evercore ISI increased their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an in-line rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on Allstate from $193.00 to $200.00 and gave the stock an overweight rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Allstate presently has a consensus rating of Moderate Buy and a consensus target price of $183.24.

Allstate Stock Down 0.3 %

Allstate stock opened at $176.82 on Thursday. 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 one year low of $104.29 and a one year high of $180.87. The company has a 50-day simple moving average of $164.68 and a 200-day simple moving average of $164.34. The firm has a market capitalization of $46.69 billion, a P/E ratio of 39.03, a P/E/G ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned ($4.42) earnings per share. As a group, equities analysts expect that Allstate will post 13.64 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.08%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Allstate during the 1st quarter worth about $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate in the fourth quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Allstate during the first quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate during the first quarter valued at approximately $26,000. Finally, Versant Capital Management Inc increased its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.