Allstate (NYSE:ALL) Price Target Raised to $230.00

Allstate (NYSE:ALL) had its price objective boosted by The Goldman Sachs Group from $209.00 to $230.00 in a research note issued to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the insurance provider’s stock.

ALL has been the subject of a number of other research reports. Barclays increased their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Raymond James upped their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. TD Cowen lifted their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group raised their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

Allstate Price Performance

Shares of NYSE ALL opened at $196.88 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $190.01 and a 200-day moving average of $176.80. The stock has a market capitalization of $52.13 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.75 and a beta of 0.48. Allstate has a fifty-two week low of $131.65 and a fifty-two week high of $201.00.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the company earned $0.81 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts predict that Allstate will post 16.01 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Insider Activity at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. This represents a 50.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allstate

Hedge funds have recently made changes to their positions in the stock. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Allstate by 20.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,017 shares of the insurance provider’s stock worth $349,000 after buying an additional 340 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in shares of Allstate during the first quarter valued at about $217,000. Nicolet Advisory Services LLC grew its holdings in shares of Allstate by 8.0% during the first quarter. Nicolet Advisory Services LLC now owns 3,661 shares of the insurance provider’s stock worth $616,000 after purchasing an additional 272 shares during the last quarter. Spirepoint Private Client LLC acquired a new position in shares of Allstate in the first quarter valued at approximately $346,000. Finally, Acadian Asset Management LLC raised its holdings in Allstate by 154.2% in the 1st quarter. Acadian Asset Management LLC now owns 10,564 shares of the insurance provider’s stock valued at $1,825,000 after buying an additional 6,409 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.