Investment Analysts’ Weekly Ratings Changes for Allstate (ALL)

A number of research firms have changed their ratings and price targets for Allstate (NYSE: ALL):

• 5/2/2024 – Allstate had its price target raised by analysts at JPMorgan Chase & Co. from $185.00 to $193.00. They now have an “overweight” rating on the stock.
• 4/15/2024 – Allstate had its price target raised by analysts at Morgan Stanley from $187.00 to $190.00. They now have an “overweight” rating on the stock.
• 4/11/2024 – Allstate had its price target raised by analysts at Wells Fargo & Company from $145.00 to $146.00. They now have an “underweight” rating on the stock.
• 4/11/2024 – Allstate had its price target raised by analysts at Evercore ISI from $166.00 to $173.00. They now have an “in-line” rating on the stock.
• 4/10/2024 – Allstate had its price target raised by analysts at Keefe, Bruyette & Woods from $181.00 to $189.00. They now have an “outperform” rating on the stock.
• 4/8/2024 – Allstate had its price target raised by analysts at JPMorgan Chase & Co. from $172.00 to $185.00. They now have an “overweight” rating on the stock.
• 4/8/2024 – Allstate had its price target raised by analysts at Roth Mkm from $175.00 to $200.00. They now have a “buy” rating on the stock.
• 4/1/2024 – Allstate had its price target raised by analysts at Piper Sandler from $172.00 to $188.00. They now have an “overweight” rating on the stock.
• 3/28/2024 – Allstate was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating. They now have a $190.00 price target on the stock, up previously from $158.00.
• 3/25/2024 – Allstate had its price target raised by analysts at The Goldman Sachs Group, Inc. from $164.00 to $195.00. They now have a “buy” rating on the stock.

Allstate Stock Performance

Shares of NYSE ALL traded down $2.38 during mid-day trading on Thursday, reaching $169.18. 2,730,119 shares of the company were exchanged, compared to its average volume of 1,686,629. The company’s 50-day simple moving average is $165.70 and its 200-day simple moving average is $150.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $44.51 billion, a P/E ratio of -136.44, a P/E/G ratio of 0.41 and a beta of 0.51. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $177.37.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. Allstate’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted ($1.30) EPS. As a group, research analysts predict that The Allstate Co. will post 13.83 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.18%. Allstate’s payout ratio is -296.77%.

Insiders Place Their Bets

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several hedge funds and other institutional investors have recently made changes to their positions in ALL. Vanguard Group Inc. grew its holdings in Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares during the last quarter. Norges Bank bought a new stake in Allstate during the 4th quarter worth approximately $212,771,000. Invesco Ltd. grew its holdings in Allstate by 46.6% during the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after acquiring an additional 1,311,095 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Allstate by 23.0% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock worth $466,163,000 after acquiring an additional 782,696 shares during the last quarter. Finally, Palestra Capital Management LLC bought a new stake in Allstate during the 4th quarter worth approximately $83,561,000. 76.47% of the stock is owned by institutional investors.

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.