Investors Buy Shares of Allstate (ALL) on Weakness on Analyst Downgrade

Investors purchased shares of Allstate Corp (NYSE:ALL) on weakness during trading on Thursday after Morgan Stanley lowered their price target on the stock from $113.00 to $105.00. $71.27 million flowed into the stock on the tick-up and $26.91 million flowed out of the stock on the tick-down, for a money net flow of $44.36 million into the stock. Of all equities tracked, Allstate had the 11th highest net in-flow for the day. Allstate traded down ($0.61) for the day and closed at $92.80

ALL has been the topic of several other research reports. Wells Fargo & Co reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Allstate in a research note on Thursday, November 2nd. Deutsche Bank lowered their price objective on shares of Allstate from $102.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. ValuEngine raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group lifted their price objective on shares of Allstate from $91.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $99.00.

Institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its position in shares of Allstate by 3.1% in the third quarter. Canada Pension Plan Investment Board now owns 491,833 shares of the insurance provider’s stock worth $45,204,000 after acquiring an additional 14,700 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Allstate by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,160 shares of the insurance provider’s stock worth $7,860,000 after acquiring an additional 1,700 shares in the last quarter. Aperio Group LLC increased its position in shares of Allstate by 16.4% in the third quarter. Aperio Group LLC now owns 410,026 shares of the insurance provider’s stock worth $37,685,000 after acquiring an additional 57,713 shares in the last quarter. Regentatlantic Capital LLC increased its position in shares of Allstate by 0.9% in the fourth quarter. Regentatlantic Capital LLC now owns 126,437 shares of the insurance provider’s stock worth $13,239,000 after acquiring an additional 1,176 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its position in shares of Allstate by 86.5% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 611,347 shares of the insurance provider’s stock worth $64,015,000 after acquiring an additional 283,615 shares in the last quarter. 76.65% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $33,300.00, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.34 and a beta of 0.96. The company has a quick ratio of 0.26, a current ratio of 0.25 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.53 by $0.56. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Allstate had a net margin of 8.28% and a return on equity of 12.57%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $2.17 earnings per share. equities research analysts expect that Allstate Corp will post 8.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be issued a dividend of $0.46 per share. This is a boost from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, March 2nd. Allstate’s dividend payout ratio (DPR) is currently 21.20%.

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About Allstate

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

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