Allstate (NYSE:ALL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Allstate (NYSE:ALL - Free Report) had its price target increased by Keefe, Bruyette & Woods from $235.00 to $243.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the insurance provider's stock.

Other analysts have also recently issued research reports about the stock. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday. The Goldman Sachs Group upped their price target on Allstate from $209.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Wells Fargo & Company raised their price objective on Allstate from $175.00 to $186.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Bank of America upped their target price on Allstate from $216.00 to $233.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, Piper Sandler raised their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and an average target price of $218.06.

Allstate Price Performance

ALL traded down $10.68 on Friday, reaching $181.12. The stock had a trading volume of 4,641,180 shares, compared to its average volume of 2,514,140. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $47.96 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. Allstate has a fifty-two week low of $148.23 and a fifty-two week high of $209.88. The firm has a 50-day moving average of $195.84 and a 200-day moving average of $185.36.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The firm's revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allstate will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Friday, November 29th. Allstate's dividend payout ratio (DPR) is currently 23.83%.

Institutional Investors Weigh In On Allstate

A number of hedge funds have recently added to or reduced their stakes in ALL. FSA Wealth Management LLC bought a new position in shares of Allstate in the 3rd quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate during the third quarter valued at about $29,000. Peoples Bank KS bought a new stake in shares of Allstate during the fourth quarter worth about $49,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Allstate in the 3rd quarter worth about $58,000. Institutional investors and hedge funds 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.