Allstate (NYSE:ALL) PT Lowered to $175.00 at Wells Fargo & Company

Allstate (NYSE:ALL) had its price objective cut by Wells Fargo & Company from $177.00 to $175.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the company. 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 target on Allstate from $199.00 to $204.00 and gave the stock a buy rating in a research note on Thursday. Bank of America boosted their target price on Allstate from $213.00 to $226.00 and gave the company a buy rating in a research note on Thursday, August 1st. Roth Mkm restated a buy rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on Allstate from $199.00 to $208.00 and gave the company an outperform rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $191.94.

Allstate Trading Up 0.8 %

Shares of ALL stock opened at $179.59 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $166.45 and a two-hundred day moving average price of $165.42. Allstate has a 12-month low of $104.29 and a 12-month high of $184.30. The firm has a market cap of $47.40 billion, a P/E ratio of 39.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $14.04 billion. During the same quarter in the previous year, the company posted ($4.42) earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. Equities analysts anticipate that Allstate will post 13.64 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.05%. Allstate’s payout ratio is presently 81.24%.

Insider Activity

In other news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several institutional investors and hedge funds have recently modified their holdings of ALL. Bank of New York Mellon Corp boosted its position in shares of Allstate by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after buying an additional 90,390 shares during the last quarter. Norges Bank purchased a new stake in shares of Allstate during the fourth quarter valued at $212,771,000. Dimensional Fund Advisors LP boosted its position in shares of Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after buying an additional 47,038 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after buying an additional 31,789 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after buying an additional 8,454 shares during the last quarter. 76.47% of the stock is currently owned by 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.