Allstate (NYSE:ALL) PT Lowered to $216.00

Allstate (NYSE:ALL - Free Report) had its price objective reduced by Bank of America from $226.00 to $216.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the insurance provider's stock.

ALL has been the topic of a number of other reports. Morgan Stanley decreased their target price on Allstate from $205.00 to $200.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $199.00 to $208.00 and gave the stock an outperform rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $193.00 to $200.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Raymond James boosted their price target on shares of Allstate from $205.00 to $220.00 and gave the stock a strong-buy rating in a research note on Friday, October 4th. Finally, Piper Sandler raised their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an overweight rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Allstate currently has a consensus rating of Moderate Buy and a consensus price target of $199.24.

Allstate Price Performance

Shares of Allstate stock traded up $0.75 on Thursday, reaching $185.66. The stock had a trading volume of 1,271,560 shares, compared to its average volume of 1,548,405. The business's 50 day moving average is $183.88 and its two-hundred day moving average is $172.80. The company has a market cap of $49.00 billion, a P/E ratio of 40.97, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. Allstate has a 1 year low of $113.04 and a 1 year high of $193.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for 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 for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.42) EPS. As a group, research analysts anticipate that Allstate will post 15.2 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, August 30th. Allstate's payout ratio is 81.24%.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on 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 $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the company'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 of the company's stock, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 238,305 shares of company stock worth $43,082,657. Company insiders own 1.80% of the company's stock.

Institutional Trading of Allstate

Several large investors have recently bought and sold shares of ALL. Exchange Traded Concepts LLC boosted its position in shares of Allstate by 6,673.1% during the third quarter. Exchange Traded Concepts LLC now owns 5,283 shares of the insurance provider's stock valued at $1,002,000 after purchasing an additional 5,205 shares in the last quarter. Carnegie Investment Counsel purchased a new position in Allstate during the third quarter valued at $224,000. Ritholtz Wealth Management lifted its position in Allstate by 0.7% during the third quarter. Ritholtz Wealth Management now owns 14,410 shares of the insurance provider's stock valued at $2,733,000 after buying an additional 101 shares during the period. Meyer Handelman Co. boosted its holdings in shares of Allstate by 1.2% during the 3rd quarter. Meyer Handelman Co. now owns 174,510 shares of the insurance provider's stock valued at $33,096,000 after buying an additional 2,125 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Allstate by 338.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,684 shares of the insurance provider's stock worth $319,000 after buying an additional 1,300 shares during the period. 76.47% of the stock is owned by institutional investors.

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.