Barclays Initiates Coverage on Allstate (NYSE:ALL)

Barclays initiated coverage on shares of Allstate (NYSE:ALL) in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage issued an underweight rating and a $175.00 price target on the insurance provider’s stock.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Allstate from $177.00 to $175.00 and set an equal weight rating on the stock in a research report on Friday, August 16th. StockNews.com lowered shares of Allstate from a strong-buy rating to a buy rating in a research report on Wednesday, August 21st. Morgan Stanley lowered their price objective on shares of Allstate from $205.00 to $200.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets lifted their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an outperform rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $193.00 to $200.00 and gave the company an overweight rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of Moderate Buy and a consensus target price of $192.76.

Allstate Stock Down 0.2 %

Shares of NYSE:ALL opened at $185.36 on Wednesday. The firm’s 50 day moving average price is $173.77 and its 200 day moving average price is $168.18. The stock has a market cap of $48.92 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48. Allstate has a fifty-two week low of $105.85 and a fifty-two week high of $191.33. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

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%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($4.42) earnings per share. As a group, equities research analysts predict that Allstate will post 15.14 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Insider Buying and Selling at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders sold 201,938 shares of company stock worth $36,122,740 in the last 90 days. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allstate

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Premier Path Wealth Partners LLC lifted its position in Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 61 shares in the last quarter. Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 78 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of Allstate by 8.2% in the 2nd quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock valued at $166,000 after purchasing an additional 79 shares in the last quarter. Lodestone Wealth Management LLC raised its position in shares of Allstate by 4.8% in the 2nd quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 80 shares in the last quarter. Finally, MCF Advisors LLC raised its position in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Company Profile

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.