Allstate Corporation (The) (ALL) Upgraded to “Buy” by Goldman Sachs Group, Inc. (The)

Allstate Corporation (The) (NYSE:ALL) was upgraded by investment analysts at Goldman Sachs Group, Inc. (The) to a “buy” rating in a research note issued to investors on Tuesday.

Other equities research analysts have also issued reports about the company. Deutsche Bank AG restated a “buy” rating and issued a $80.00 price objective on shares of Allstate Corporation (The) in a research note on Thursday, November 10th. J P Morgan Chase & Co restated a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, November 3rd. Credit Suisse Group set a $73.00 price objective on Allstate Corporation (The) and gave the stock a “buy” rating in a research note on Monday, September 12th. Barclays PLC restated a “buy” rating and issued a $83.00 price objective on shares of Allstate Corporation (The) in a research note on Monday. Finally, Zacks Investment Research lowered Allstate Corporation (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, January 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $73.27.

Analyst Recommendations for Allstate Corporation (The) (NYSE:ALL)

Shares of Allstate Corporation (NYSE:ALL) opened at 73.09 on Tuesday. The firm’s 50-day moving average price is $72.86 and its 200-day moving average price is $69.72. The stock has a market cap of $26.92 billion, a P/E ratio of 19.79 and a beta of 0.97. Allstate Corporation has a 52-week low of $56.03 and a 52-week high of $74.95.

Allstate Corporation (The) (NYSE:ALL) last announced its earnings results on Wednesday, November 2nd. The company reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. The business earned $7.87 billion during the quarter, compared to analyst estimates of $8.35 billion. Allstate Corporation (The) had a net margin of 4.25% and a return on equity of 9.16%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. Equities analysts predict that Allstate Corporation will post $4.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Wednesday, November 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Monday, November 28th. Allstate Corporation (The)’s dividend payout ratio is currently 35.68%.

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In related news, Chairman Thomas J. Wilson sold 22,605 shares of the company’s stock in a transaction on Friday, December 16th. The shares were sold at an average price of $74.09, for a total value of $1,674,804.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Samuel H. Pilch sold 21,178 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $72.24, for a total transaction of $1,529,898.72. The disclosure for this sale can be found here. 1.58% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ALL. Van Hulzen Asset Management LLC bought a new position in Allstate Corporation (The) during the third quarter valued at approximately $112,000. Pinkerton Retirement Specialists LLC increased its position in Allstate Corporation (The) by 654.6% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,645 shares of the company’s stock valued at $115,000 after buying an additional 1,427 shares during the period. Zions Bancorporation increased its position in Allstate Corporation (The) by 64.1% in the second quarter. Zions Bancorporation now owns 2,089 shares of the company’s stock valued at $146,000 after buying an additional 816 shares during the period. SRB Corp increased its position in Allstate Corporation (The) by 6.1% in the third quarter. SRB Corp now owns 2,297 shares of the company’s stock valued at $159,000 after buying an additional 132 shares during the period. Finally, Global X Management Co. LLC increased its position in Allstate Corporation (The) by 110.0% in the third quarter. Global X Management Co. LLC now owns 2,593 shares of the company’s stock valued at $179,000 after buying an additional 1,358 shares during the period. 75.47% of the stock is owned by institutional investors.

About Allstate Corporation (The)

The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.

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