Allstate (NYSE:ALL) PT Raised to $231.00

Allstate (NYSE:ALL - Free Report) had its price target raised by Jefferies Financial Group from $217.00 to $231.00 in a research report sent to investors on Wednesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the insurance provider's stock.

Several other equities research analysts have also weighed in on the company. Morgan Stanley cut their target price on Allstate from $205.00 to $200.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Barclays began coverage on shares of Allstate in a research report on Wednesday, September 4th. They issued an underweight rating and a $175.00 price target for the company. Raymond James raised their price objective on Allstate from $205.00 to $220.00 and gave the stock a strong-buy rating in a report on Friday, October 4th. TD Cowen upped their target price on Allstate from $193.00 to $224.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets boosted their price objective on Allstate from $191.00 to $205.00 and gave the company an outperform rating in a research note on Monday, August 5th. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $199.41.

Allstate Stock Up 1.1 %

ALL stock traded up $1.95 during midday trading on Wednesday, hitting $184.82. The company's stock had a trading volume of 1,003,226 shares, compared to its average volume of 1,549,823. The firm has a 50-day simple moving average of $183.60 and a 200-day simple moving average of $172.72. The firm has a market capitalization of $48.78 billion, a P/E ratio of 40.77, a PEG ratio of 1.81 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. Allstate has a 52-week low of $113.04 and a 52-week high of $193.97.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS 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 the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.42) EPS. As a group, equities analysts forecast that Allstate will post 15.2 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, August 30th. Allstate's payout ratio is currently 81.24%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated 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 transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other Allstate news, insider Suren Gupta sold 45,775 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 89,930 shares in the company, valued at $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 is available through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 238,305 shares of company stock valued at $43,082,657. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allstate

A number of institutional investors have recently made changes to their positions in ALL. Rise Advisors LLC bought a new position in Allstate during the 1st quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate in the first quarter worth about $26,000. Versant Capital Management Inc increased its holdings in 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 during the last quarter. Family Firm Inc. acquired a new stake in Allstate during the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC grew its position in shares of Allstate by 33.9% in 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.