Investors Buy Allstate (ALL) on Weakness

Traders purchased shares of Allstate (NYSE:ALL) on weakness during trading on Friday. $50.03 million flowed into the stock on the tick-up and $13.30 million flowed out of the stock on the tick-down, for a money net flow of $36.73 million into the stock. Of all stocks tracked, Allstate had the 17th highest net in-flow for the day. Allstate traded down ($0.39) for the day and closed at $96.36

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised Allstate from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $90.00 to $93.00 in a research note on Monday, April 2nd. Citigroup increased their price target on Allstate from $111.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, March 27th. Wells Fargo reissued a “hold” rating and issued a $100.00 price target on shares of Allstate in a research note on Monday, April 2nd. Deutsche Bank decreased their price target on Allstate from $102.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Finally, Bank of America decreased their price target on Allstate from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $100.40.

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The company has a market cap of $34,293.82, a price-to-earnings ratio of 14.36, a PEG ratio of 1.38 and a beta of 0.94. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.56. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter last year, the business posted $2.17 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. sell-side analysts predict that Allstate will post 8.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 5th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.84 annualized dividend and a yield of 1.91%. This is a boost from Allstate’s previous quarterly dividend of $0.37. Allstate’s dividend payout ratio (DPR) is currently 27.42%.

Hedge funds have recently made changes to their positions in the stock. Rational Advisors LLC bought a new position in Allstate during the fourth quarter valued at about $126,000. Taylor Hoffman Wealth Management bought a new position in Allstate during the fourth quarter valued at about $131,000. Americafirst Capital Management LLC bought a new position in Allstate during the third quarter valued at about $138,000. Resources Investment Advisors Inc. boosted its stake in Allstate by 71.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,340 shares of the insurance provider’s stock valued at $140,000 after buying an additional 557 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. bought a new position in Allstate during the fourth quarter valued at about $143,000. 77.89% of the stock is owned by institutional investors and hedge funds.

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Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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