Allstate (NYSE:ALL) Price Target Raised to $254.00

Allstate (NYSE:ALL) had its price objective increased by Keefe, Bruyette & Woods from $250.00 to $254.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

ALL has been the topic of several other research reports. JPMorgan Chase & Co. raised their price target on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Wolfe Research raised shares of Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Roth Capital upped their price target on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Finally, BMO Capital Markets lifted their price objective on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.00.

Allstate Trading Up 1.8%

Shares of NYSE ALL opened at $210.92 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $206.93 and its two-hundred day moving average price is $203.17. Allstate has a 52-week low of $176.00 and a 52-week high of $215.89. The stock has a market capitalization of $55.19 billion, a P/E ratio of 6.83, a PEG ratio of 0.46 and a beta of 0.24.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the business posted $3.91 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is presently 12.95%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This represents a 16.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 48,400 shares of company stock worth $10,313,256. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allstate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arlington Trust Co LLC lifted its holdings in shares of Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after buying an additional 89 shares during the period. Harbor Capital Advisors Inc. raised its position in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its holdings in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. Clearstead Trust LLC lifted its holdings in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new position in shares of Allstate during the 3rd quarter valued at about $31,000. 76.47% of the stock is owned by institutional investors.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.