The Allstate (NYSE:ALL) had its price objective raised by JPMorgan Chase & Co. from $127.00 to $130.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.
Several other brokerages have also recently issued reports on ALL. Citigroup lifted their target price on shares of The Allstate from $128.00 to $135.00 in a report on Wednesday, March 31st. Barclays boosted their price objective on shares of The Allstate from $115.00 to $125.00 in a report on Thursday, January 28th. Morgan Stanley boosted their price objective on shares of The Allstate from $119.00 to $128.00 and gave the company an equal weight rating in a report on Friday. Keefe, Bruyette & Woods cut shares of The Allstate from an outperform rating to a market perform rating in a report on Thursday, February 11th. Finally, Raymond James boosted their price objective on shares of The Allstate from $125.00 to $135.00 and gave the company a strong-buy rating in a report on Tuesday, March 30th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $123.20.
Shares of The Allstate stock opened at $122.84 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $36.89 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 1.14 and a beta of 0.81. The Allstate has a 52-week low of $84.97 and a 52-week high of $122.96. The company has a 50-day simple moving average of $115.33 and a two-hundred day simple moving average of $105.45.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Thursday, March 4th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.64%. This is a positive change from The Allstate’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Wednesday, March 3rd. The Allstate’s payout ratio is 31.06%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DB Wealth Management Group LLC bought a new position in shares of The Allstate in the fourth quarter worth approximately $29,000. Capstone Triton Financial Group LLC bought a new position in shares of The Allstate in the fourth quarter worth approximately $32,000. Hoover Financial Advisors Inc. bought a new position in shares of The Allstate in the fourth quarter worth approximately $36,000. Childress Capital Advisors LLC bought a new position in shares of The Allstate in the fourth quarter worth approximately $36,000. Finally, Accel Wealth Management bought a new position in shares of The Allstate in the fourth quarter worth approximately $37,000. Institutional investors own 76.95% of the company’s stock.
About The Allstate
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Protection Services, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.
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