Allstate’s (ALL) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Allstate (NYSE:ALL) in a report published on Tuesday, MarketBeat.com reports. The firm currently has a $215.00 price objective on the insurance provider’s stock, down from their prior price objective of $245.00.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Mizuho started coverage on shares of Allstate in a research note on Monday. They issued an “outperform” rating and a $254.00 price objective on the stock. UBS Group upped their target price on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Evercore ISI set a $233.00 price target on Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $236.93.

Allstate Stock Performance

NYSE ALL opened at $204.84 on Tuesday. The firm has a 50-day moving average price of $203.52 and a two-hundred day moving average price of $202.50. Allstate has a 12-month low of $176.00 and a 12-month high of $215.89. The company has a market capitalization of $53.60 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.39 and a beta of 0.25. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the previous year, the company posted $3.91 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that Allstate will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $1.00 dividend. The ex-dividend date is Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 28,807 shares of company stock valued at $6,198,726 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

Hedge funds have recently modified their holdings of the business. Arlington Trust Co LLC raised its position in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares during the period. Clearstead Trust LLC boosted its holdings in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in Allstate during the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.