Allstate (NYSE:ALL) PT Raised to $231.00 at Jefferies Financial Group

Allstate (NYSE:ALL) had its target price upped by Jefferies Financial Group from $217.00 to $231.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other brokerages also recently commented on ALL. Evercore ISI raised their target price on shares of Allstate from $191.00 to $195.00 and gave the company an in-line rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on Allstate from $199.00 to $208.00 and gave the stock an outperform rating in a research report on Monday, August 12th. Barclays initiated coverage on shares of Allstate in a research report on Wednesday, September 4th. They issued an underweight rating and a $175.00 price objective for the company. Piper Sandler boosted their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an overweight rating in a research report on Friday, August 16th. Finally, 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 report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $199.24.

Allstate Stock Up 1.3 %

ALL opened at $188.28 on Wednesday. The business has a 50-day moving average of $184.27 and a two-hundred day moving average of $173.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a 12 month low of $113.04 and a 12 month high of $193.97. The stock has a market capitalization of $49.69 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last announced 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. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned ($4.42) EPS. On average, research analysts expect that Allstate will post 15.19 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were given a dividend of $0.92 per share. The ex-dividend date was Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. Allstate’s dividend payout ratio is currently 81.24%.

Insider Activity

In related news, insider Suren Gupta sold 45,775 shares of Allstate 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 sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate 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 sale, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 238,305 shares of company stock valued at $43,082,657. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Allstate

A number of institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in Allstate during the first quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate in the first quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings 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 valued at $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Allstate during the 2nd quarter valued at $38,000. Finally, MCF Advisors LLC boosted its stake in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.