Allstate (NYSE:ALL) Price Target Raised to $187.00

Allstate (NYSE:ALL) had its target price lifted by Wells Fargo & Company from $186.00 to $187.00 in a research report report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

A number of other research firms have also weighed in on ALL. Jefferies Financial Group lifted their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James upped their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. UBS Group upped their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Barclays dropped their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Stock Performance

Shares of ALL stock opened at $191.24 on Tuesday. The firm’s 50 day moving average is $195.87 and its 200 day moving average is $186.08. The stock has a market capitalization of $50.64 billion, a P/E ratio of 12.39, a PEG ratio of 1.35 and a beta of 0.52. Allstate has a 12 month low of $150.17 and a 12 month high of $209.88. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 earnings per share. On average, sell-side analysts anticipate that Allstate will post 16.45 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in Allstate in the third quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate in the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate during the 3rd quarter valued at about $29,000. Peoples Bank KS bought a new position in Allstate during the 4th quarter worth approximately $49,000. Finally, Transamerica Financial Advisors Inc. purchased a new position in Allstate in the 3rd quarter worth approximately $58,000. Hedge funds and other institutional investors 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.