Credit Suisse Group lowered shares of Allstate (NYSE:ALL) from a neutral rating to an underperform rating in a research note published on Thursday, 24/7 WallStreet reports. The firm currently has $94.00 price target on the insurance provider’s stock, down from their prior price target of $100.00.
Several other brokerages have also weighed in on ALL. Morgan Stanley lowered their price objective on Tesla from $97.00 to $10.00 and set an equal weight rating for the company in a research report on Tuesday, May 21st. Barclays reiterated a buy rating and issued a $65.00 price objective on shares of Owens Corning in a research report on Monday, July 1st. Zacks Investment Research lowered KKR & Co Inc from a buy rating to a hold rating in a research report on Friday, March 22nd. UBS Group reiterated a buy rating and issued a $25.00 price objective on shares of Infineon Technologies in a research report on Tuesday, May 7th. Finally, Goldman Sachs Group upgraded Koninklijke KPN from a neutral rating to a buy rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Allstate currently has an average rating of Hold and an average target price of $103.46.
Shares of Allstate stock opened at $103.91 on Thursday. The stock has a market capitalization of $34.59 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.41 and a beta of 0.81. Allstate has a fifty-two week low of $77.00 and a fifty-two week high of $107.43. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $100.65.
Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.02. The company had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.82 billion. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.96 earnings per share. Equities research analysts predict that Allstate will post 8.9 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Thursday, May 30th. Allstate’s dividend payout ratio (DPR) is 24.78%.
In other Allstate news, insider Glenn T. Shapiro sold 22,289 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the transaction, the insider now directly owns 25,584 shares in the company, valued at $2,615,196.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,225 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $102.63, for a total value of $228,351.75. The disclosure for this sale can be found here. Insiders have sold 54,703 shares of company stock worth $5,593,860 over the last 90 days. 1.60% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ALL. Federated Investors Inc. PA raised its stake in shares of Allstate by 10.0% in the first quarter. Federated Investors Inc. PA now owns 1,143,114 shares of the insurance provider’s stock valued at $107,659,000 after acquiring an additional 103,920 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Allstate by 3.8% in the first quarter. Wetherby Asset Management Inc. now owns 12,330 shares of the insurance provider’s stock valued at $1,162,000 after acquiring an additional 446 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Allstate by 65.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 170,647 shares of the insurance provider’s stock valued at $16,072,000 after acquiring an additional 67,490 shares in the last quarter. Advisor Partners LLC raised its stake in shares of Allstate by 31.1% in the first quarter. Advisor Partners LLC now owns 16,876 shares of the insurance provider’s stock valued at $1,589,000 after acquiring an additional 4,001 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Allstate by 5.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,291 shares of the insurance provider’s stock valued at $687,000 after acquiring an additional 351 shares in the last quarter. Institutional investors own 77.32% of the company’s stock.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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