Evercore ISI Upgrades Allstate (NYSE:ALL) to “Outperform”

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

Other research analysts also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group increased their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets increased their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, UBS Group increased their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $216.94.

Allstate Price Performance

Shares of ALL stock opened at $191.45 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The company’s 50-day simple moving average is $195.81 and its two-hundred day simple moving average is $185.19. Allstate has a one year low of $148.23 and a one year high of $209.88. The company has a market capitalization of $50.70 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. As a group, equities analysts anticipate 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. Shareholders of record on Friday, November 29th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.92%. Allstate’s payout ratio is presently 23.83%.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the business. FSA Wealth Management LLC acquired a new stake in Allstate in the third quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate in the third quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate in the third quarter worth about $29,000. Peoples Bank KS acquired a new position in shares of Allstate during the 4th quarter worth about $49,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Allstate during the 3rd quarter worth about $58,000. 76.47% of the stock is currently 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.