JPMorgan Chase & Co. Increases Allstate (NYSE:ALL) Price Target to $207.00

Allstate (NYSE:ALL) had its target price increased by JPMorgan Chase & Co. from $205.00 to $207.00 in a report published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the insurance provider’s stock.

Several other brokerages have also issued reports on ALL. TD Cowen upped their price target on Allstate from $193.00 to $224.00 and gave the company a buy rating in a research note on Tuesday, September 3rd. Roth Mkm reaffirmed a buy rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. Barclays began coverage on shares of Allstate in a report on Wednesday, September 4th. They issued an underweight rating and a $175.00 price objective on the stock. Bank of America lowered their target price on shares of Allstate from $226.00 to $216.00 and set a buy rating for the company in a report on Thursday. Finally, Wells Fargo & Company cut their price target on Allstate from $177.00 to $175.00 and set an equal weight rating on the stock in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $199.24.

Allstate Stock Performance

Allstate stock opened at $188.28 on Thursday. The firm has a market capitalization of $49.69 billion, a P/E ratio of 41.56, a P/E/G ratio of 1.74 and a beta of 0.48. The stock has a fifty day moving average price of $184.27 and a two-hundred day moving average price of $173.07. Allstate has a 52-week low of $113.04 and a 52-week high of $193.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter in the previous year, the company posted ($4.42) earnings per share. Allstate’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts anticipate that Allstate will post 15.19 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Insider Buying and Selling

In related news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 238,305 shares of company stock valued at $43,082,657. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

A number of large investors have recently modified their holdings of ALL. Brevan Howard Capital Management LP increased its position in Allstate by 204.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 8,917 shares of the insurance provider’s stock worth $1,248,000 after purchasing an additional 5,992 shares in the last quarter. Bain Capital Public Equity LP boosted its holdings in shares of Allstate by 138.5% during the 4th quarter. Bain Capital Public Equity LP now owns 34,828 shares of the insurance provider’s stock valued at $4,875,000 after acquiring an additional 20,228 shares in the last quarter. Bain Capital Public Equity Management II LLC grew its position in Allstate by 7.1% during the 4th quarter. Bain Capital Public Equity Management II LLC now owns 214,454 shares of the insurance provider’s stock worth $30,019,000 after acquiring an additional 14,254 shares during the last quarter. Gillson Capital LP acquired a new position in Allstate in the 4th quarter worth about $38,685,000. Finally, Palestra Capital Management LLC bought a new position in Allstate in the fourth quarter valued at about $83,561,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.