Allstate (NYSE:ALL) Price Target Increased to $190.00 by Analysts at Morgan Stanley

Allstate (NYSE:ALL) had its target price raised by Morgan Stanley from $187.00 to $190.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

ALL has been the topic of several other reports. Wells Fargo & Company boosted their target price on shares of Allstate from $145.00 to $146.00 and gave the company an underweight rating in a research note on Thursday, April 11th. UBS Group boosted their target price on shares of Allstate from $171.00 to $185.00 and gave the company a buy rating in a research note on Monday, February 12th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $172.00 to $185.00 and gave the company an overweight rating in a report on Monday, April 8th. The Goldman Sachs Group boosted their price target on shares of Allstate from $164.00 to $195.00 and gave the company a buy rating in a report on Monday, March 25th. Finally, HSBC upgraded shares of Allstate from a hold rating to a buy rating and boosted their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate currently has an average rating of Moderate Buy and an average price target of $173.71.

Allstate Price Performance

NYSE ALL opened at $169.12 on Monday. The stock has a market capitalization of $44.49 billion, a P/E ratio of -136.39, a P/E/G ratio of 0.40 and a beta of 0.52. Allstate has a 1 year low of $100.57 and a 1 year high of $174.57. The business’s fifty day moving average is $163.59 and its two-hundred day moving average is $146.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. During the same period in the previous year, the business earned ($1.36) EPS. The company’s revenue was up 8.7% on a year-over-year basis. On average, research analysts forecast that Allstate will post 13.5 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.18%. Allstate’s dividend payout ratio is currently -296.77%.

Insider Buying and Selling

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after buying an additional 3,322,673 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Allstate by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,123,728 shares of the insurance provider’s stock valued at $1,137,160,000 after buying an additional 75,898 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Allstate by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock valued at $660,318,000 after buying an additional 172,250 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Allstate by 1.1% during the first quarter. Geode Capital Management LLC now owns 5,815,257 shares of the insurance provider’s stock valued at $643,015,000 after buying an additional 63,438 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Allstate by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 4,239,513 shares of the insurance provider’s stock valued at $472,324,000 after buying an additional 53,821 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

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.