Allstate (NYSE:ALL) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of Allstate (NYSE:ALL) from an in-line rating to an outperform rating in a report issued on Wednesday, MarketBeat reports.

ALL has been the topic of a number of other research reports. Barclays lowered their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday. Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price target on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.94.

Allstate Stock Performance

Shares of ALL stock opened at $191.45 on Wednesday. Allstate has a 52-week low of $148.23 and a 52-week high of $209.88. The stock’s 50-day moving average price is $195.81 and its 200 day moving average price is $185.19. The stock has a market capitalization of $50.70 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts forecast that Allstate will post 16.26 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.92%. Allstate’s dividend payout ratio is currently 23.83%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALL. FSA Wealth Management LLC bought a new stake in Allstate during the 3rd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate during the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate during the 3rd quarter valued at $29,000. Peoples Bank KS bought a new stake in shares of Allstate during the 4th quarter valued at $49,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of Allstate during the 3rd quarter valued at $58,000. 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.