Keefe, Bruyette & Woods Increases Allstate (NYSE:ALL) Price Target to $208.00

Allstate (NYSE:ALL) had its target price boosted by Keefe, Bruyette & Woods from $199.00 to $208.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

ALL has been the topic of several other research reports. Bank of America boosted their target price on shares of Allstate from $213.00 to $226.00 and gave the stock a buy rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded Allstate from an underweight rating to an equal weight rating and raised their price objective for the company from $142.00 to $177.00 in a research report on Monday. Morgan Stanley dropped their price target on Allstate from $205.00 to $200.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group lifted their price objective on Allstate from $197.00 to $199.00 and gave the stock a buy rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $193.00 to $200.00 and gave the company an overweight rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Allstate has a consensus rating of Moderate Buy and a consensus price target of $191.25.

Allstate Stock Performance

Shares of NYSE ALL opened at $180.95 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. Allstate has a 12-month low of $104.29 and a 12-month high of $181.34. The firm has a market capitalization of $47.76 billion, a price-to-earnings ratio of 39.94, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The firm has a 50 day moving average of $165.86 and a 200 day moving average of $165.17.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($4.42) earnings per share. On average, research analysts anticipate that Allstate will post 13.64 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

A number of hedge funds have recently bought and sold shares of the stock. Premier Path Wealth Partners LLC raised its stake in shares of Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 61 shares in the last quarter. Confluence Wealth Services Inc. raised its position in shares of Allstate by 0.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock valued at $1,306,000 after purchasing an additional 65 shares during the last quarter. Brighton Jones LLC grew its position in Allstate by 1.9% during the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after purchasing an additional 71 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after buying an additional 72 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the period. 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.