Raymond James Raises Allstate (NYSE:ALL) Price Target to $220.00

Allstate (NYSE:ALL) had its target price increased by Raymond James from $205.00 to $220.00 in a report published on Friday morning, Benzinga reports. They currently have a strong-buy rating on the insurance provider’s stock.

ALL has been the topic of a number of other reports. Wells Fargo & Company lowered their target price on shares of Allstate from $177.00 to $175.00 and set an equal weight rating on the stock in a report on Friday, August 16th. StockNews.com cut shares of Allstate from a strong-buy rating to a buy rating in a report on Wednesday, August 21st. BMO Capital Markets raised their target price on shares of Allstate from $191.00 to $205.00 and gave the company an outperform rating in a research note on Monday, August 5th. TD Cowen boosted their price target on Allstate from $193.00 to $224.00 and gave the stock a buy rating in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group raised their price objective on Allstate from $199.00 to $204.00 and gave the company a buy rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Allstate has an average rating of Moderate Buy and a consensus price target of $195.12.

Allstate Price Performance

Shares of NYSE ALL opened at $181.18 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50-day moving average of $183.18 and a 200-day moving average of $172.46. The stock has a market capitalization of $47.82 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 1.81 and a beta of 0.48. Allstate has a fifty-two week low of $112.42 and a fifty-two week high of $193.97.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same period last year, the company earned ($4.42) earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Allstate will post 15.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced 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 2.03%. The ex-dividend date was Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate 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 owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 238,305 shares of company stock worth $43,082,657. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALL. Abacus Planning Group Inc. increased its position in shares of Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after acquiring an additional 56 shares in the last quarter. Premier Path Wealth Partners LLC lifted its stake in Allstate by 2.5% in the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 61 shares during the last quarter. Everpar Advisors LLC grew its stake in shares of Allstate by 3.3% during the 3rd quarter. Everpar Advisors LLC now owns 2,434 shares of the insurance provider’s stock worth $462,000 after acquiring an additional 77 shares during the period. Versant Capital Management Inc increased its stake in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Finally, Beacon Capital Management LLC raised its position in shares of Allstate by 8.2% in the second quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock valued at $166,000 after purchasing an additional 79 shares during the period. 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.