Allstate (NYSE:ALL) Price Target Raised to $244.00

Allstate (NYSE:ALL) had its price target hoisted by Piper Sandler from $206.00 to $244.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets upped their price target on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company boosted their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Finally, Evercore ISI upped their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Price Performance

Shares of Allstate stock opened at $208.20 on Tuesday. The firm has a market cap of $55.13 billion, a PE ratio of 13.48, a P/E/G ratio of 1.80 and a beta of 0.48. The business has a 50-day moving average price of $192.69 and a 200 day moving average price of $178.77. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. Allstate has a twelve month low of $134.17 and a twelve month high of $209.88.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. Sell-side analysts predict that Allstate will post 16.07 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. Shareholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. FSA Wealth Management LLC purchased a new position in shares of Allstate in the 3rd quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the third quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in Allstate during the 3rd quarter worth approximately $29,000. Versant Capital Management Inc lifted its position in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Allstate during the second quarter worth $38,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.