Allstate Corporation Stock Analysis: Performance and Ratings Update
Shares of The Allstate Corporation have a consensus rating of "Moderate Buy" according to nineteen firms analyzing the stock. This includes one suggestion to sell, seven recommendations to hold, and eleven recommendations to purchase, with three categorizing it as a strong buy. The average price target proposed by these evaluations stands at $236.93 for the next year.
Recent Changes in Allstate's Stock Ratings
Several firms have recently updated Allstate's stock ratings. BMO Capital Markets elevated its price target from $235 to $244, rating it as "outperform." Mizuho initiated its analysis with an "outperform" rating, aiming for a price objective of $254. Conversely, Zacks Research downgraded its rating from "strong-buy" to "hold." Morgan Stanley retained an "equal weight" rating but revised its price target from $245 down to $215. Meanwhile, Roth Capital increased its price target from $230 to $240, continuing a "buy" recommendation.
Financial Performance and Market Capitalization
The company's stock recently opened at $208.96, with 50 and 200-day moving averages at $203.73 and $202.43, respectively. Allstate’s market capitalization stands at $54.68 billion, with a price-to-earnings ratio of 6.76. Financial stability metrics include quick and current ratios both at 0.43, alongside a debt-to-equity ratio of 0.32.
Earnings and Dividend Announcement
In its latest quarterly earnings, Allstate reported an EPS of $11.17, exceeding the anticipated $5.48. Revenue hit $17.26 billion, surpassing expectations of $16.59 billion, reflecting a 3.8% year-over-year increase. Analysts forecast an annual EPS of 18.74. Allstate has also declared a quarterly dividend of $1.00 per share, yielding 1.9%.
Insider and Institutional Activity
Insider transactions include the sale of 3,786 shares by Suren Gupta, valued at approximately $814,482, as part of a broader pattern where insiders sold 28,807 shares for $6,198,726. Approximately 1.70% of the company's stock is held by insiders. Institutional investors like Arlington Trust Co LLC and Harbor Capital Advisors Inc. have been actively trading shares, reflecting strengthened positions in Allstate.
Industry Position and Historical Context
Founded in 1931 and based in Northbrook, Illinois, Allstate Corporation has evolved into a major force in personal lines property and casualty insurance in the U.S., particularly in underwriting auto and homeowners coverage. Initially a Sears subsidiary, Allstate has grown into a diversified insurer offering a comprehensive range of products, effectively meeting regulatory compliance requirements and addressing industry challenges.
This report offers a detailed overview of recent Allstate developments for industry analysts and professionals, concentrating on financial performance, stock analysis, and market positioning within the insurance sector.