Allstate (NYSE:ALL) Price Target Increased to $220.00 by Analysts at Raymond James

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

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. increased their price target on Allstate from $193.00 to $200.00 and gave the company an overweight rating in a research note on Thursday, July 11th. Barclays assumed coverage on shares of Allstate in a research report on Wednesday, September 4th. They issued an underweight rating and a $175.00 price target on the stock. StockNews.com downgraded Allstate from a strong-buy rating to a buy rating in a report on Wednesday, August 21st. BMO Capital Markets raised their price target on shares of Allstate from $191.00 to $205.00 and gave the company an outperform rating in a research report on Monday, August 5th. Finally, Piper Sandler increased their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an overweight rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate has an average rating of Moderate Buy and an average target price of $195.12.

Allstate Price Performance

NYSE:ALL opened at $190.57 on Friday. The firm’s fifty day moving average price is $183.18 and its two-hundred day moving average price is $172.46. 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 company has a market cap of $50.29 billion, a P/E ratio of 42.07, a P/E/G ratio of 1.81 and a beta of 0.48. Allstate has a one year low of $110.74 and a one year high of $193.97.

Allstate (NYSE:ALL) last issued 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. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.42) EPS. Equities analysts expect that Allstate will post 15.2 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s dividend payout ratio is 81.24%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’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 value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s 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 sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This 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 can be accessed through this link. Also, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 238,305 shares of company stock worth $43,082,657 over the last ninety days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lighthouse Investment Partners LLC purchased a new position in Allstate during the 4th quarter valued at approximately $5,927,000. BDF Gestion purchased a new stake in shares of Allstate in the second quarter valued at $3,051,000. BNP Paribas Financial Markets boosted its stake in shares of Allstate by 55.8% during the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares during the period. OFI Invest Asset Management bought a new stake in Allstate in the second quarter worth about $476,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Allstate by 12.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after buying an additional 5,586 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.