Allstate (NYSE:ALL) Price Target Lowered to $228.00 at Keefe, Bruyette & Woods

Allstate (NYSE:ALL - Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $240.00 to $228.00 in a research note issued to investors on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider's stock.

Other equities research analysts also recently issued research reports about the company. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. StockNews.com upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $219.27.

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Allstate Trading Up 1.8 %

Shares of ALL stock traded up $3.52 during trading hours on Wednesday, hitting $196.07. 592,125 shares of the company were exchanged, compared to its average volume of 1,615,734. The company has a 50 day simple moving average of $196.82 and a two-hundred day simple moving average of $194.22. The firm has a market cap of $51.96 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.01 and a beta of 0.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. Allstate has a fifty-two week low of $156.66 and a fifty-two week high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities analysts anticipate that Allstate will post 18.74 EPS for the current year.

Allstate declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio (DPR) is presently 23.54%.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Allstate

Institutional investors have recently added to or reduced their stakes in the business. OLD National Bancorp IN raised its position in shares of Allstate by 70.4% in the first quarter. OLD National Bancorp IN now owns 4,875 shares of the insurance provider's stock valued at $1,009,000 after purchasing an additional 2,014 shares during the period. KMG Fiduciary Partners LLC raised its holdings in Allstate by 3.1% during the 1st quarter. KMG Fiduciary Partners LLC now owns 17,974 shares of the insurance provider's stock valued at $3,722,000 after acquiring an additional 540 shares during the period. Barden Capital Management Inc. lifted its position in shares of Allstate by 1.9% during the first quarter. Barden Capital Management Inc. now owns 7,864 shares of the insurance provider's stock worth $1,628,000 after acquiring an additional 146 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Allstate by 1.7% in the first quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider's stock worth $782,000 after acquiring an additional 63 shares during the period. Finally, Charter Oak Capital Management LLC grew its position in shares of Allstate by 77.6% in the first quarter. Charter Oak Capital Management LLC now owns 2,168 shares of the insurance provider's stock valued at $449,000 after purchasing an additional 947 shares in the last quarter. 76.47% of the stock is 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.