Allstate (NYSE:ALL) Given New $226.00 Price Target at Bank of America

Allstate (NYSE:ALL) had its price target hoisted by Bank of America from $213.00 to $226.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

ALL has been the topic of a number of other research reports. Roth Mkm increased their target price on Allstate from $175.00 to $200.00 and gave the stock a buy rating in a report on Monday, April 8th. StockNews.com cut shares of Allstate from a strong-buy rating to a buy rating in a report on Monday, June 3rd. The Goldman Sachs Group lifted their price target on shares of Allstate from $197.00 to $199.00 and gave the company a buy rating in a report on Friday, July 19th. Wells Fargo & Company increased their price objective on shares of Allstate from $146.00 to $153.00 and gave the stock an underweight rating in a research note on Friday, May 10th. Finally, BMO Capital Markets raised Allstate from a market perform rating to an outperform rating and upped their target price for the company from $190.00 to $191.00 in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $183.24.

Allstate Stock Down 1.8 %

Shares of ALL stock traded down $3.18 during mid-day trading on Thursday, reaching $174.20. 516,535 shares of the company were exchanged, compared to its average volume of 1,564,720. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The business’s 50 day simple moving average is $164.44 and its 200 day simple moving average is $163.99. The company has a market capitalization of $45.97 billion, a P/E ratio of 39.18, a P/E/G ratio of 1.79 and a beta of 0.48. Allstate has a fifty-two week low of $104.29 and a fifty-two week high of $180.87.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.75%. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period last year, the business earned ($4.42) EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts predict that Allstate will post 13.64 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is currently 81.24%.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its position in Allstate by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,663 shares of the insurance provider’s stock worth $3,618,000 after purchasing an additional 200 shares in the last quarter. Midland Wealth Advisors LLC lifted its stake in Allstate by 34.7% in the 2nd quarter. Midland Wealth Advisors LLC now owns 3,535 shares of the insurance provider’s stock worth $564,000 after acquiring an additional 911 shares in the last quarter. Allegheny Financial Group LTD lifted its stake in Allstate by 68.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 3,465 shares of the insurance provider’s stock worth $553,000 after acquiring an additional 1,408 shares in the last quarter. Rhumbline Advisers boosted its position in Allstate by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 533,694 shares of the insurance provider’s stock worth $85,210,000 after acquiring an additional 16,121 shares during the period. Finally, Convergence Investment Partners LLC acquired a new position in shares of Allstate in the 2nd quarter valued at about $839,000. 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.